Co-Operative Societies Act · s 2

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2.
In this Act, unless the context otherwise requires —
“Board” has the same meaning as “committee members”;
“bonus” means a share of the profits of a registered society divided among its members in proportion to the share business done with the society by them from which profits of the society were derived;
“bonus shares” means the additional value of the shares as a result of the re-assessment of the society’s property;
“by-laws” means the registered by-laws made by a society in the exercise of any power conferred by this Act, and includes a registered amendment of the by-laws;
“committee members” means the governing body of a registered society, to whom the management of its affairs is entrusted;
“co-operative principles” includes —
(a)
voluntary and open membership;
(b)
member control;
(c)
member economic participations;
(d)
autonomy and independence;

Co-operative Societies 8
(e)
education, training and information;
(f)
co-operation among co-operatives; and
(g)
concern for community;
“delegate” means —
(a)
a representative of the individual members elected at a district meeting of members of a primary society in which the general meeting of members is replaced by a general meeting of delegates; or
(b)
a representative of a registered society which is itself a member of another registered society, the meetings of which such representative has been elected or appointed to attend;
“dividend” means a share of the profits of a registered society divided among its members in proportion to the volume of capital held by them;
“inaugural general meeting” means the general meeting at which persons desirous of forming a co-operative society resolve to form a society, to adopt the by-laws proposed for the society and to apply for the registration of the society;
“member” includes a person or registered society joining in the application for the registration of a society, and a person or registered society admitted to membership after registration in accordance with the by-laws;
“Minister” means Minister responsible for co-operative societies’
matters;
“officer” includes a chairman, secretary, treasurer, member, or other person empowered under the rules or by-laws to give directions in regard to the business of a registered society;
“primary society” means a society registered under section 4;
“registered society” means a co-operative society registered under this Act;
“Registrar” means the Registrar of Co-operative Societies appointed under section 3 and includes any person when exercising such powers of the Registrar as may be conferred upon him under that section;

Co-operative Societies

“rules” means rules made under this Act;
“secondary society” means a society registered under section 4;
“subsidiary” of a registered society means a company incorporated under the Companies Act (Chapter 39);
“tertiary society” means a society registered under section 4.

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s 2In this Act, unless the context otherwise requires —

“Board” has the same meaning as “committee members”;

“bonus” means a share of the profits of a registered society divided among its members in proportion to the share business done with the society by them from which profits of the society were derived;

“bonus shares” means the additional value of the shares as a result of the re-assessment of the society’s property;

“by-laws” means the registered by-laws made by a society in the exercise of any power conferred by this Act, and includes a registered amendment of the by-laws;

“committee members” means the governing body of a registered society, to whom the management of its affairs is entrusted;

“co-operative principles” includes —

(a)

voluntary and open membership;

(b)

member control;

(c)

member economic participations;

(d)

autonomy and independence;

Co-operative Societies 8

(e)

education, training and information;

(f)

co-operation among co-operatives; and

(g)

concern for community;

“delegate” means —

(a)

a representative of the individual members elected at a district meeting of members of a primary society in which the general meeting of members is replaced by a general meeting of delegates; or

(b)

a representative of a registered society which is itself a member of another registered society, the meetings of which such representative has been elected or appointed to attend;

“dividend” means a share of the profits of a registered society divided among its members in proportion to the volume of capital held by them;

“inaugural general meeting” means the general meeting at which persons desirous of forming a co-operative society resolve to form a society, to adopt the by-laws proposed for the society and to apply for the registration of the society;

“member” includes a person or registered society joining in the application for the registration of a society, and a person or registered society admitted to membership after registration in accordance with the by-laws;

“Minister” means Minister responsible for co-operative societies’

matters;

“officer” includes a chairman, secretary, treasurer, member, or other person empowered under the rules or by-laws to give directions in regard to the business of a registered society;

“primary society” means a society registered under section 4;

“registered society” means a co-operative society registered under this Act;

“Registrar” means the Registrar of Co-operative Societies appointed under section 3 and includes any person when exercising such powers of the Registrar as may be conferred upon him under that section;

Co-operative Societies

“rules” means rules made under this Act;

“secondary society” means a society registered under section 4;

“subsidiary” of a registered society means a company incorporated under the Companies Act (Chapter 39);

“tertiary society” means a society registered under section 4.