Amendment status not verified — confirm the current text below against the official source.
(1) The registration of a Co-operative society shall render it a body corporate by the name under which it is registered, having a perpetual succession and a common seal and the Co-operative society shall be entitled to acquire, hold and dispose of property, to enter into contracts on its behalf, to institute and defend suits and other legal proceedings, and to do all other things necessary to achieve its objectives. (2) All transactions entered into in good faith prior to registration of the purposes of the Co-operative, shall be deemed to be transactions of the Co-operative society after registration.