Amendment status not verified — confirm the current text below against the official source.
(1) Subject to the provisions of section 29 and sub-section (2) a transfer of, or charge on, the share or interest of a member in the capital of a society shall be subject shall be subject to such conditions as may be prescribed. (2) A member shall not transfer any share held by him, or his interest in the capital or property of any society, or any part thereof, unless,- (a) he has held such share or interested for not less than one year (b) the transfer or charge is made to the society, or to a membership has been accepted by the society; and (c) the committee has approved such transfer.