CO-OPERATIVE SOCIETIES ACT

ARRANGEMENT OF SECTIONS

   1   Short title

   2   Interpretation

 

Registration

   3   Appointment of Registrar and Assistant Registrars

   4   Societies which may be registered

   5   Conditions of registration

   6   Application for registration

   7   Registration

   8   Societies to be bodies corporate

   9   Evidence of registration

 

Duties and Privileges of Societies

   10   Power of registered society to make rules

   11   Amendment of rules

   12   Address of society

   13   Publication of name

   14   Copy of Act, etc to be open to inspection

   15   Disposal of produce to or through a registered society

   16   Creation of charges in favour of registered societies

   17   Charge and set off in respect of shares or interest of member

   18   Power of nomination

   19   Transfer or payment of value of interest on death of member

   20   Deposits by or on behalf of minors

   21   Register of members

   22   Evidence of documents and of entries in books

   23   Qualifications for membership

   24   Members not to exercise rights until due payment made

   25   Restriction of membership in society

   26   Voting rights

   27   Liability of infants on contracts

   28   No individual to hold more than 20% of share capital

   29   Restriction on transfer of share or interest

   30   Liability of past member and estate of deceased member for debts of society

 

Property and Funds of Registered Societies

   31   Loans made by registered societies

   32   Deposits and loans received by a registered society

   33   Restrictions on other transactions with non-members

   34   Disposal of dividends and bonus

   35   Reserve funds

   36   Allocation to education or charity

   37   Disposal of surplus moneys

 

Audit, Inspection and Inquiry

   38   Audit

   39   Power of Registrar to inspect books, etc of the society

   40   Inquiry and inspection

 

Dissolution of Registered Society

   41   Dissolution

   42   Cancellation of registration due to lack of membership

   43   Effect of cancellation of registration

   44   Appointment of liquidator

   45   Powers of a liquidator

   46   Power of Registrar to control liquidation

      Suspension of registration

   47   Enforcement of order

   48   Limitation of the jurisdiction of the civil court

   49   Closure of liquidation

 

Disputes

   50   Settlement of disputes

   51   Case stated on question of law

 

Regulations

   52   Regulations

 

Miscellaneous

   53   Amalgamation

   54   Conversion

   55   Conversion effective upon issue of certificate of registration by Registrar

   56   Provision for fines and penalties against members

   57   Injunction and specific performances

   58   Prohibition of the use of the word "Co-operative"

   59   Exemption from income tax and stamp duty

   60   Offences

   61   Punishment of fraud or misappropriation

   62   Venue

   63   Penalties

   64   Agricultural Loan Society

 

THE CO-OPERATIVE SOCIETIES ACT

[Date of Commencement: 1st October, 1950]

Cap 75.

Law 46 of 1957.

Acts
6 of 1974,
26 of 1975,
3 of 1992.

1   Short title

   This Act may be cited as the Co-operative Societies Act.

2   Interpretation

   In this Act-

   "bonus" means a share of the profits of a registered society divided among its members in proportion to the volume of business done with the society by them from which the profits of the society were derived;

   "committee" means the governing body of a registered society to whom the management of its affairs is entrusted;

   "dividend" means a share of the profits of a registered society divided among its members in proportion to the share capital held by them;

   "member" includes a person or registered society joining in the application for the registration of a society and a person or registered society admitted to membership in accordance with the rules;

   "officer" includes the chairman, secretary, treasurer, member of committee, or other person empowered under the regulations or rules to give directions in regard to the business of a registered society;

   "registered society" means a co-operative society registered under this Act;

   "Registrar" means the Registrar of Co-operative Societies appointed under section 3 and includes any person when exercising such powers of the Registrar as may have been conferred upon him under that section;

   "regulations" means regulations made under this Act;

   "rules" means the registered rules made by a society under this Act.

Registration

3   Appointment of Registrar and Assistant Registrars

   The Governor-General may appoint a person to be Registrar of Co-operative Societies for Jamaica and may appoint persons to assist such Registrar and may by general or special order published in the Gazette, confer on any such persons all or any of the powers of a Registrar under this Act.

4   Societies which may be registered

   Subject to the provisions of this Act a society may be registered under this Act which-

[46/1957 s 2.]

   (a)   has as its object the promotion of the economic interests of its members in accordance with cooperative principles and consists of not less than ten members each of whom is qualified under section 23 for membership; or

   (b)   is established with the object of facilitating the operations of a society described in paragraph (a) and includes among its members at least two registered societies.

5   Conditions of registration

   (1) The word "co-operative" shall form part of the name of every registered society.

[46/1957 s 3.]

   (2) The liability of every registered society which includes one or more registered societies among its members shall be limited.

   (3) The word "limited" shall be the last word in the name of every registered society with limited liability.

   (4) No society shall be registered under this Act under a name identical with that under which any other existing society is registered or so nearly resembling such name as to be likely to mislead the members or the public as to its identity.

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