Restriction on holding of shares

No member, other than the Government or a co-operative society, shall hold more than such portion of the share capital of a co-operative society, subject to a maximum of one-fifth , as may be prescribed or have or claim any interest in the shares of such society exceeding ten thousand rupees. An order passed by the Registrar refusing registration of a co-operative society shall be communicated by registered post or by any other means deemed fit to the applicant referred to in rule 3. Where the movable properties to be attached is the salary or allowance or wages of a public officer or of a servant of a local authority or a firm or a company or any other institution, the Recovery Officer may on receiving a report from the Sale Officer, order the employer concerned that the amount shall subject to the provision of section 60 of Code of Civil Procedure, 1908 (5 of 1908) be with-held from such salary or allowance or wages either in one payment or by monthly instalments as the recovery officer may direct and upon the notice of the order, the officers or employer shall with-hold and remit to the Sale Officer the amount due under the order or the monthly instalments, as the case may be. If at a general meeting or special general meeting, there is no quorum within one hour of the time fixed for the meeting, it shall be adjourned and fresh general meeting or special general meeting, as the case may be, shall be re-convened, after giving due notice. If at the re-convened meeting also, there is no quorum within one hour of time appointed for the meeting, then at the end of one hour members present shall constitute quorum.