Singapore legislation

Clause 25

of Co-operative Societies Bill

Clause 25

Shares or interest not liable to attachment or sale

Subject to the provisions of section 24, the share or interest of a member in the capital of a society shall not be liable to attachment or sale under any decree or order of a court in respect of a debt or liability incurred by such member, and neither his assignee in insolvency nor a receiver duly appointed shall be entitled to, or have a claim on, such share or interest.