(1) No person shall be admitted as a member of a co-operative lvhO may society except the foilowing, namely:- (a ) an individual competent to contract under section 11 of the Indian Contract Act, 1872.;
(b) any other co-operative society;
(c) the Government; aind
(d) such class or classes of persons or associations of persons as may be notified by the Chief Commissioner in this behalf.
(2) Notwithstanding anything contained in sub-section ( I ) , the Chief Commissioner may, having regard to the fact that the interest of any person or class of persons conflicts or is likely to conflict with the objects of any society or class of societies, by general or special order, published in the Official Gazette, declare that any person or class of persons engaged in or carrying on any profession, business or employment shall be disqualified from being admitted, or for continuing, as members or shall be eligible for membersliip only to a limited extent of any specified society or class of societies, so long a8 such person or persons is or are engaged in or carrying on that professioh, business or employment, as the case
16. (I) Notwithstanding anything contained in section 15, a codoperative society may admit any person [including any bank referred to in associate sub-clause (i) or sub-clause (ii) or sub-clause (iii) or sub-clause (v) of with its bye-laws.
(2) A nominal or associate member shall not be entitled to any share in any form whatsoever, in the assets or profits of the co-operative society.
(3) Save as sotherwise provided in this section, a nominal or associate member shall have such privileges and rights of a member and be subj'ect to such liabilities of a member, as may be specified in the bye-laws of .17. No member of a co-operative society shall exercise the rights of a member unless he has made such payments to the society in respect of exercise membersliip or has acquired such interest in the society as may be specified in the bye-laws.
Votes of IS. Every member of a co-operative society shall have only one vote members. in the affairs of the society:
Pl,ovic]ed tl-i;it..--- ( a ) i l l tjic of an ecjuality (if votes, the c ! l n i l ~ r ~ n n shall have a BEG. 11 THE GAZETTE O F INDIA EXTRAORDINARY - 5 7 - -- - ( c ) where the Government is a member of the co-operative society, each person nominated by the Chief Commissioner on the committee shall have one vote.