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← Co-operative Societies Act 1979

Co-operative Societies Act 1979 s 66

s 66 Capital

66. The capital of a society may be raised by all or any of the following means:(a) entrance fees which are not refundable except in cases where an application for membership has been rejected; (b) ordinary shares subscribed and paid up by members; (c) permanent shares subscribed and paid up by institutional members; (d) in the case of credit societies —(i) subscription capital; and (ii) other deposits from members which are withdrawable subject to conditions laid down in the by‑laws; (da) bonds or debentures issued by the society subject to such restrictions as are laid down in this Act and in the by-laws;[Act 17 of 2024 wef 18/07/2024] (e) deposits or loans from non-members subject to such restrictions as are laid down in this Act and in the by‑laws; (f) donations made by third persons except that no donations from any foreign source, whether offered directly or otherwise, may be received by a society without the Registrar’s prior approval.[Act 17 of 2024 wef 18/07/2024]

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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