State Act

Kerala Co-operative Societies Act 1969

32[22.Restriction on holding shares.-In any society, no member other than the Government, any statutory or non- statutory Board, Committee or Corporation approved by the Government in this behalf or any other society, shall hold more than such portion of the total share capital of the society, not exceeding one fifth thereof, as may be prescribed: Provided that the Government may, by notification in the Gazette, specify in respect of any class of societies a higher maximum than one fifth of the share capital.]