Restrictions on holding of shares

In any society, no member other than the Government or any other society, shall :(a) Hold more than such portion of the total share capital of the society (in no case exceeding one-fifth thereof) as may be prescribed, or (b) Have or claim any interest in the shares of the society exceeding five thousand rupees : Provided that the Government may, by notification in the Official Gazette specify in respect of any class of societies a higher or lower maximum than one fifth of the share capital or, as the case may be, a higher or lower amount than five thousand rupees.