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Section 22: Restrictions on holding of shares.

The Jammu and Kashmir Co-Operative Societies Act, 1989Union territory Act of Jammu and Kashmir · Act 10 of 1989

In any Co-operative Society no member other than the Government or any other Co-operative Society shall

(a) hold more than such portion of the total share capital of the Society not exceeding one-fifty thereof as may be prescribed ; or

(b) have or claim any interest in the shares of the Society exceeding one thousand rupees :

Provided that where the Society is a financing bank, a member may have or claim an interest in the shares of the Society not exceeding five thousand rupees :

Provided further that the Government may, by notification in the [Government Gazette], specify in respect of any class of Co-operative Societies a higher maximum than one-fifty of the share capital or a higher amount than five thousand rupees, as the case may be.

Where this provision sits

ActThe Jammu and Kashmir Co-Operative Societies Act, 1989
Section22
Marginal noteRestrictions on holding of shares.
JurisdictionUnion territory of Jammu and Kashmir
StatusIn force as published by the source

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