|Name:||Co-operative Societies Act. No. 23 (Cap. 378A).|
|Type of legislation:||Law, Act|
|Entry into force:|
|Published on:||Supplement to the Official Gazette, Vol. CXXV, 1990-08-13, No. 66, 193 p.
|Bibliography:||Supplement to the Official Gazette, Vol. CXXV, 1990-08-13, No. 66, 193 p.
Act on-line FAOLEX (Food and Agricultural Organization of the United Nations) PDF of Act as consolidated to 1995 (consulted on 2011-07-11)
|Abstract/Citation:||Provides for the registration, supervision and management of certain societies whose members share a common bond of philosophy and social and economic objectives. Conditions for registration include a membership of at least ten persons, other than corporate bodies, who have attained the age of sixteen years, and detailed provisions for the names of societies. Under the Act, a registered society is a body corporate governed by its own by-laws. Other provisions cover share capital, issue of shares, allocation of surplus, dividends, prohibited loans and guarantees in the event of insolvency, the office of directors, meetings, voting, membership and suspension or termination thereof, financial matters and audit, dissolution and liquidation, settlement of disputes, the establishment of a Co-operative Societies Appeals Tribunal, civil remedies, the functions of the Registrar, consumers' societies, and other matters. The former Co-operative Societies Act is repealed (Cap. 378).|