Co-operative Societies Act 1979 s 66A

s 66A Ordinary shares

66A.—(1) A society may issue ordinary shares.[3/2018] (2) A member of a society must hold the minimum number of ordinary shares of the society specified in the by‑laws of the society.[3/2018] (3) The member may withdraw or transfer the ordinary shares which the member is required to hold under subsection (2) only when the member ceases to be a member of the society.[3/2018] (4) Where a member of a society holds ordinary shares of the society in excess of the minimum number the member is required to hold under subsection (2), the member may withdraw or transfer the excess shares in accordance with this Act and the by‑laws of the society.[3/2018]

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