Amendment status not verified — confirm the current text below against the official source.
In any society, no member other than the Government or any other society, shall :- (a) Hold more than such portion of the total share capital of the society (in no case exceeding one-fifth thereof) as may be prescribed, or No rights of membership to be exercis- ed till due payments are made. Voting powers of members. Restrictions on holding of shares. APCS ACT 1978 15 (b) Have or claim any interest in the shares of the society exceeding five thousand rupees : Provided that the Government may, by notification in the Official Gazette specify in respect of any class of societies a higher or lower maximum than one fifth of the share capital or, as the case may be, a higher or lower amount than five thousand rupees.