Co-operative societies to be bodies corporate

The registration of a society shall render it a body corporate by the name under which it is registered, having perpetual succession and a common seal, and with power to hold property, enter into contracts, institute and defend suits and other legal proceedings and to do all things necessary for the purposes for which it was constituted: Provided that the Government and the Registrar shall have power to regulate the working of a society for the economic and social betterment of its members and the general public.