Promotion of subsidiary organisation.

Corporate199554 sections

Statutory text

(1) Any Co-operative Society may, by a resolution passed at general meeting by a majority of members present and voting, promote one or more subsidiary organizations for the furtherance of its stated objectives, and such organizations may be registered under any law for the time being in force, as agreed to by the general body.
(2) The annual reports and accounts of any such subsidiary organization shall be placed before the general meeting of the promoting Co-operative Society every year.
(3) Any subsidiary organization created under sub-section (1) shall exist for only as long as the general body of the Co-operative Society deems its existence necessary.

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