Restriction of holding of shares

In any Society no member belonging to the category mentioned in Clause (a) of Sub-Section (1) of Section 16 shall– (a) hold more than such portion of the total share capital of the Society not exceeding one-tenth thereof as may be prescribed; or (b) have or claim any interest in the shares of the Society exceeding Rs. 5,000: Provided that the State Government may, by notification, specify in respect of any class of Societies a higher maximum than one-tenth of the share capital or a higher amount than Rs. 5,000, as the case may be.