Conditions of registration. – (1) No society, other than a society of

8. Conditions of registration. – (1) No society, other than a society of which a member is registered society, shall be registered under this Act, which does not consist of at least fifteen persons, of different families above the age of eighteen years and where the primary object of the society is the creation of funds to be lent to its members, unless such persons- (a) reside in the same town or village or in the same group of villages; or (b) save where the Registrar otherwise directs, are members of the same tribe, class or occupation. (2) The State Government may by notification in the official Gazette reduce the minimum number of membership of fifteen persons for particular class of Co-operative Societies. (3) The word “limited” shall be the last word in the name of every society with limited liability registered under this Act.