Amendment status not verified — confirm the current text below against the official source.
(1) A co-operative society's objective is to promote the economic interest or general welfare of its members or of the public through self help and mutual aid in accordance with co-operative principles or a co-operative society established with the object of facilitating the operations of any co-operative society may be registered under this Act with limited liability. (2) No co-operative society shall be registered if in the opinion of the Registrar, its declared objects are unlikely to be achieved or it is likely to be economically unsound or it may have an adverse effect upon any registered co-operative society or the Co-operative Movement as a whole.