(1) No society, other than a federal society, shall be registered under this Act unless it consists of at least ten persons (each of such persons being a member of a different family), who are qualified to be members under this Act and who reside or carry on business or profession in the area of operation of the society:
Provided that a co-operative housing society consisting of at least five such persons who are residing or intend to reside in the area of operation of the society may be registered under this Act:
Provided further that, a lift irrigation society consisting of five or more such persons may be registered under this Act.
(2) No federal society shall be registered unless it has at least five societies as its members.
(3) Nothing in this Act shall be deemed to affect the registration of any society made before the commencement of this Act.
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(4) The name of the society shall not have any reference to any caste or religious denomination.
(5) The word “limited” or its equivalent in any language shall be the last word in the name of every society which is registered or deemed to be registered under this Act.
Explanation.— For the purposes of this section and section 7, the expression “member of a family” means wife, husband, father, mother, unmarried son and unmarried daughter.