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bruneilawsby aturio
In force2015 Revised Edition
Contents

Part III · Duties and Privileges of Societies

Section 10A

(1)

No registered society shall form, own, acquire or hold a subsidiary without the approval of the Registrar.

Co-operative Societies

(2)

The Registrar may approve a society to form a subsidiary if —

(a)

the by-laws of the society make provision for such formation;

(b)

the activity of such subsidiary is related to the society;

(c)

the activity of the subsidiary is such that it can only be performed by the subsidiary;

(d)

the formation of such subsidiary benefits all members of the society and is not prejudicial to the interest of the members of the society;

(e)

the formation of such subsidiary does not pose a threat to the society;

(f)

such subsidiary is approved by the general meeting;

(g)

the society has been operating profitably for a least 2 years continuously and has a healthy cash balance;

(h)

such subsidiary has a long term objective.

(3)

For the purpose of subsection (1), the society must submit the following to the Registrar —

(a)

current audited accounts;

(b)

minutes of the last annual general meeting;

(c)

current list of management personnel.

Report

Read on from s 11

Part IV

Read on from Part IV

Part IV

Part iv a

Part V

Property and Funds of Registered Societies

Read on from Part V

Part VI

Audit, Inspection and Inquiry

Read on from Part VI

Part VII

Read on from Part VII

Part VIII

Surcharge and Attachment

Read on from Part VIII

Part IX

Disputes

Read on from Part IX

Part X

Rules

Read on from Part X

Part XI

General

Read on from Part XI