Section 18
Register of members and shares
of Co-operative Societies Act 1979
ActIn forceProvision 25 of 134
Section 18
Amended by3/2018
(1)
Every society must maintain a register of members, and where a society issues shares to its members, a register of shares held by each member.
(2)
Where a society issues permanent shares to its institutional members, the number of permanent shares held by each institutional member must be recorded in the society’s register of shares.
Amended by3/2018
(3)
The register of members and shares is prima facie evidence of any of the following particulars entered in the register:
(a)
the date on which the name of any person was entered in the register as a member;
(b)
the date on which any such person ceased to be a member; and
(c)
the number of shares held by a member.