Societies which may be registered

A society, which has its objects the promotion of the economic interests or general welfare of its members, or of the public, in accordance with co-operative principles, or a society established with the object of facilitating the operations of any such society, may be registered under this Act : Provided that no society shall be registered if it is likely to be economically unsound, or the registration of which may have an adverse effect on the development of the co-operative movement: Provided further that the Registrar may lay down conditions towards formation of economic unit societies.