Conditions of registration

(1) No society, other than a society of which a member is a registered society shall be registered under this Act which does not consist of at least twenty-five independent persons residing or owning immovable property in the same town or village or in the same group of villages, save when the Registrar otherwise directs. Explanation - An independent person is one who is not dependent upon another member for his means of livelihood. (2) The word "limited" shall be the last word in the name of every society with limited liability registered under this Act.