Restriction on holding of share capital by a member

In any society, no member, other than the State Government or any other society, shall,- (a) hold more than such portion of the total share capital of the society not exceeding one-fifth thereof as may be prescribed; or (b) have or claim any interest in the shares of the society exceeding Rs. 20,000; Provided that the State Government may, by notification, specify in respect of any class of societies a maximum exceeding one-fifth of the share capital or Rs. 20,000, as the case may be.