Restrictions on holding of shares

In any society, no member other than the Government or any other society, shall hold or have any claim to more than such portion of the total share capital of the society which exceed one-fifth thereof or Rs. 5,000/- whichever is less. Provided that the Government may, by notification in the Official Gazette, specify in respect of any class of societies a higher maximum than one-fifth of the share capital or a higher amount than Rs. 5,000/- as the case may be.