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Multi-State Cooperative Societies Act, 1984

24. Restrictions on holding of shares.-

No member, other than any of the authorities referred to in clauses (c) to (g) of sub-section (1) of section 19 or a multi-State cooperative society or a cooperative society, shall hold more than such portion of the total share capital of the society (in no case exceeding one-fifth thereof) as may be prescribed;

Provided that the Central Government may, by notification, specify in respect of any class of societies a higher or lower maximum than one-fifth of the share capital.

Multi-State Cooperative Societies Act, 1984 Back

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