Exercise of rights

General200162 sections8 chapters

Chapter 3 MEMBERSHIP

Statutory text

(1) No member of a Co-operative shall exercise the rights of membership, including the right to vote unless the member has made such payments to the Co-operative in respect of membership or has acquired and continues to have such interest in the Co-operative, including a minimum use of the services of the Co-operative, as may be specified in the articles of association.
(2) Within twenty days of closure of the previous financial year, the chief executive shall prepare a list of members with the right to vote, and a list of members without the right to vote with reasons thereof, valid for the current financial year. The list shall be affixed to the notice board of the Co-operative for information of all members, and any member, not satisfied with the specific instances of inclusion or non-inclusion of members in the lists, may appeal to the board within ten days of the affixation of the lists on the notice board, for re-examination of the records, and the board shall, within forty-five days of closure of the previous financial year, review the lists, finalise them, and have them affixed to the notice board of the Co-operative.

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