CO-OPERATIVE CREDIT SOCIETIES ACT 139 



Constittition. 



3. (i) A society shall consist of ten or more persons above Constitution 

 the age of eighteen years — °^ societies. 



(a) Residing in the same town or village, or in the same 



group of villages ; or, 



(b) Subject to the sanction of the Registrar, consisting of 



members of the same tribe, class, or caste. 



(2) Societies shall be either rural or urban. In a rural 

 society not less than four-fifths of the members shall be agri- 

 culturists. In an urban society not less than four-fifths of the 

 members shall be non-agriculturists. 



(3) When any question arises as to whether for the purposes 

 of this Act a person is an agriculturist or a non-agriculturist, 

 or whether two or more villages shall be considered to form a 

 group, or whether any person belongs to a tribe, class, or caste, 

 the question shall be decided by the Registrar, whose decision 

 shall be final. 



4. The members of a society shall be — Members of 



society. 



(a) Persons joining in the application mentioned in 



section 6, subsection (i), and registered as a society 

 under subsection (2) of the same section ; 



(b) Persons qualified in accordance with the requirements 



of section 3, and admitted by the society in accord- 

 ance with the provisions of this Act, and with the 

 by-laws of the society : 



Provided that a person so admitted shall not exercise the 

 rights of a member unless or until he has made such payment 

 to the society in respect of membership, or acquired such 

 interest in the society, as may be prescribed by the rules made 

 under this Act or the by-laws of the society. 



Registration. 



5. The Local Government may appoint a person to be The Registrar. 

 Registrar of Co-operative Credit Societies for the Province or 



any portion of it. 



6. (i) Any ten or more persons qualified in accordance with Registration 

 the requirements of section 3, and agreeing each to make such ^"^' '^'^°'^' 

 payment or acquire such interest as aforesaid, may apply to foJutiks ° 

 the Registrar to be registered as a rural or an urban society, 



as the case may be, and the persons by whom or on whose 

 behalf such application is made shall furnish such informa- 

 tion in regard to the proposed society as the Registrar may 

 require. 



