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-tenth thereof) as may be prescribed, or Restrictions on holding of Shares 22 (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.