Co-Operative Societies Act 2008
94. Limitation on purchase of shares
Subject to the approval of the Registrar, only a registered society may purchase more than one-fifth of the shares of another society where—
a. that other society is insolvent;
b. the proposed purchase or acquisition would not render the purchasing society insolvent; or
c. the proposed purchase or acquisition would not, in the opinion of the Board, be detrimental to the financial stability of the society.