Societies which may be registered

Subject to the provisions of this Act, a society which has as its objects the promotion of the economic interest of its members or their general welfare in accordance with co-operative principles’ or a society established with the object of facilitating the operations of such a society, may be registered under this Act : Provided that it shall not be registered, if in the opinion of the Registrar, it is economically unsound, or its registration may have an adverse effect upon any other society, or it is opposed to, or its working is likely to be in contravention of public policy; Co-operative principles shall include: (1) Voluntary and open membership; (2) Democratic member control; (3) Member economic participation; (4) Autonomy & independence; (5) Education, training & information; (6) Co-operation amongst co-operatives; (7) Concern for community.