Singapore legislation
Clause 2
Clause 2
Interpretation
In this Act, unless the context otherwise requires —“allowance” means the remuneration paid to the chairman, secretary or treasurer or other officer of a society in consideration of their voluntary services rendered to the society on a regular basis;“apex organisation” means an organisation established to facilitate the operations of all primary and secondary co-operative societies in Singapore;“by-laws” means the registered by-laws made by a society in the exercise of any power conferred by this Act and includes a registered amendment of the by-laws;“Central Co-operative Fund” means the fund established under section 71;“committee of management” means the governing body of a society which is responsible for the proper management of the affairs of the society;“delegate” means —
a representative of a certain number of individual members of a primary society in which the general meeting of members is replaced by a meeting of delegates;
a representative of an institutional member who has been appointed to attend and who is entitled to vote; or
a representative of a society which is itself a member of another society, the meetings of which such representative has been elected or appointed to attend, and at which he is entitled to vote under the by-laws of that other society;“dividend” means a distribution of a portion of the net surplus of a society among the members in proportion to the paid-up share capital or subscription capital held by them in the society;“honorarium” means a distribution of a portion of the net surplus of a society among some or all of the members of the committee of management in consideration of their services which would not otherwise be remunerated;“institutional member” means a society or a trade union;“member” includes an individual person or institution qualifying for membership in a co-operative society, who or which join in the application for the registration of a society, and an individual person or institution admitted to membership after registration in accordance with this Act, the Rules and the by-laws;“Minister” means the Minister for the time being responsible for matters relating to co-operative societies;“net surplus” means the remaining portion of the surplus after provisions have been made for the reserve fund and the central co-operative fund;“officer” includes a chairman, vice-chairman, director, secretary, assistant secretary, treasurer, assistant treasurer, member of committee of management, employee, internal auditor or other person empowered under this Act, the Rules or the by-laws, to give directives in regard to the business of a society or to supervise such business;“past officer”, in relation to any obligation imposed under this Act, means a person who at any time before the occurrence of the obligation was, or performed the duties of, an officer;“patronage refund” means a distribution of a portion of the net surplus of a society among its members in proportion to the volume of business done by them with the society from which the surplus of the society was derived;“primary society” means a registered society all of whose members are individual persons who, or institutions which, have the qualifications for membership set out in section 39;“registered” means registered under this Act;“Registrar” means the Registrar of Co-operative Societies and the Assistant Registrars of Co-operative Societies appointed under section 3, and includes a person exercising such powers of the Registrar as may have been conferred upon him under that section;“Rules” means rules made under this Act;“secondary society” means a registered society all of whose registered members are co-operative societies and trade unions and which has as its object the facilitation of the operations of primary societies;“share” includes subscriptions payable by a member under the by-laws of a society;“society” means a co-operative society registered under this Act and includes a primary society, secondary society and apex organisation;“subscription capital” means a regular obligatory savings deposit (made by members in accordance with the by-laws) which is intended to serve as guarantee capital for loans taken or guaranteed by a member and which may not be withdrawn except for such specific purposes and under such conditions as are laid down in the by-laws or except on a termination of membership;“surplus” means the economic results of a society as shown in the audited financial statements of that society after provisions have been made for depreciation and bad debts;“trade union” means a trade union registered under the Trade Unions Act (Cap. 129).
Definition
“allowance” means the remuneration paid to the chairman, secretary or treasurer or other officer of a society in consideration of their voluntary services rendered to the society on a regular basis;
Definition
“apex organisation” means an organisation established to facilitate the operations of all primary and secondary co-operative societies in Singapore;
Definition
“by-laws” means the registered by-laws made by a society in the exercise of any power conferred by this Act and includes a registered amendment of the by-laws;
Definition
“Central Co-operative Fund” means the fund established under section 71;
Definition
“committee of management” means the governing body of a society which is responsible for the proper management of the affairs of the society;
Definition
“delegate” means —
a representative of a certain number of individual members of a primary society in which the general meeting of members is replaced by a meeting of delegates;
a representative of an institutional member who has been appointed to attend and who is entitled to vote; or
a representative of a society which is itself a member of another society, the meetings of which such representative has been elected or appointed to attend, and at which he is entitled to vote under the by-laws of that other society;
Definition
“dividend” means a distribution of a portion of the net surplus of a society among the members in proportion to the paid-up share capital or subscription capital held by them in the society;
Definition
“honorarium” means a distribution of a portion of the net surplus of a society among some or all of the members of the committee of management in consideration of their services which would not otherwise be remunerated;
Definition
“institutional member” means a society or a trade union;
Definition
“member” includes an individual person or institution qualifying for membership in a co-operative society, who or which join in the application for the registration of a society, and an individual person or institution admitted to membership after registration in accordance with this Act, the Rules and the by-laws;
Definition
“Minister” means the Minister for the time being responsible for matters relating to co-operative societies;
Definition
“net surplus” means the remaining portion of the surplus after provisions have been made for the reserve fund and the central co-operative fund;
Definition
“officer” includes a chairman, vice-chairman, director, secretary, assistant secretary, treasurer, assistant treasurer, member of committee of management, employee, internal auditor or other person empowered under this Act, the Rules or the by-laws, to give directives in regard to the business of a society or to supervise such business;
Definition
“past officer”, in relation to any obligation imposed under this Act, means a person who at any time before the occurrence of the obligation was, or performed the duties of, an officer;
Definition
“patronage refund” means a distribution of a portion of the net surplus of a society among its members in proportion to the volume of business done by them with the society from which the surplus of the society was derived;
Definition
“primary society” means a registered society all of whose members are individual persons who, or institutions which, have the qualifications for membership set out in section 39;
Definition
“registered” means registered under this Act;
Definition
“Registrar” means the Registrar of Co-operative Societies and the Assistant Registrars of Co-operative Societies appointed under section 3, and includes a person exercising such powers of the Registrar as may have been conferred upon him under that section;
Definition
“Rules” means rules made under this Act;
Definition
“secondary society” means a registered society all of whose registered members are co-operative societies and trade unions and which has as its object the facilitation of the operations of primary societies;
Definition
“share” includes subscriptions payable by a member under the by-laws of a society;
Definition
“society” means a co-operative society registered under this Act and includes a primary society, secondary society and apex organisation;
Definition
“subscription capital” means a regular obligatory savings deposit (made by members in accordance with the by-laws) which is intended to serve as guarantee capital for loans taken or guaranteed by a member and which may not be withdrawn except for such specific purposes and under such conditions as are laid down in the by-laws or except on a termination of membership;
Definition
“surplus” means the economic results of a society as shown in the audited financial statements of that society after provisions have been made for depreciation and bad debts;
Definition
“trade union” means a trade union registered under the Trade Unions Act (Cap. 129).