Societies which may be registered

A society established for,—

1. (i) promotion of the economic interests or general welfare of its members, or of the public, in accordance with such co-operative principles as specified in the Schedule; or
2. (ii) facilitating the operations of any such society, may be registered under this Regulation: Provided that, no society shall be registered, if it is likely to be economically unsound, or the registration of which may have an adverse effect upon any other society, or it is opposed to, or its working is likely to be in contravention of public policy or which may have an adverse effect on development of the co-operative movement, or the registration of which may be contrary to the policy directives which the Union territory Administration may, from time to time, issue.