27. Restrictions on transfer or charge of share or interest

(1)

The transfer or charge of the share or interest of a member or past member or deceased member in the capital of a registered society shall be subject to such conditions as to maximum holdings as may be prescribed by this Act or by the rules.

Co-operative Societies 20

(2)

In the case of a society registered with unlimited liability, a member shall not transfer any share held by him or his interest in the capital of the society or any part thereof, unless —

(a)

he has held such share or interest for not less than one year;

and

(b)

the transfer or charge is made to the society, or to a member of the society, or to a person whose application for membership has been accepted by the committee members.

Report

Read on from s 28

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