Amendment status not verified — confirm the current text below against the official source.
Restriction on transfer of shares or interest:- The transfer of the share or interest of a member, in the capital of a co-operative society shall be subject to such conditions as to the maximum holding as are specified in section 6 : ***** Provided that no transfer shall be allowed unless such shares have been held by the * Section 17 – Words ‗unless …. special order:‖ added by Act No. 19 of 2006. ** Section 18 – In Sub Section (1) words ―Self help group‖ inserted by Act No. 19 of 2006. *** Section 18- Explanation added by Act No. 19 of 2006. **** Section 19 – Section 19-A inserted by Act No. 18 of 2007. ***** Section 22 – Proviso and explanation added by Act No. 19 of 2006. 14 member at least for a period of two years. Explanation :- For the purposes of this section ―capital‖ refers to the capital owned by members in their individual capacity in the society‘s funds.