Restrictions on holding of shares

In any society, no member other than the Government or any other society shall (a) hold more than such portion of the total share capital of the society (in no case exceeding one-tenth thereof) as may be prescribed, or (b) have or claim any interest in the shares of the society exceeding five thousand rupees; Provided that the Government may, by notification in the Official Gazette, specify in respect of any class of societies a higher or lower maximum than one-fifth of the share capital, or as the case may be, a higher or lower amount than five thousand rupees.