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CO-OPERATIVE HOUSING SOCIETIES ACT 1958 - SECT 8 Formation and registration of society

CO-OPERATIVE HOUSING SOCIETIES ACT 1958 - SECT 8

Formation and registration of society

S. 8(1) amended by Nos 6821 s. 4(a), 9075 s. 5(2), 36/1990 s. 13(a).

    (1)     A society may be formed by any five or more persons who are not under the age of eighteen years and who are eligible under this Act and the rules as later approved and registered to be members of the society.

S. 8(2) amended by Nos 6821 s. 4(a), 36/1990 s. 13(a).

    (2)     No society shall be registered unless there has been a meeting at which there have been present five or more such persons.

S. 8(3) amended by No. 6821 s. 4(b).

    (3)     At the meeting there shall be presented—

        (a)     a written statement showing the objects of the society and the reasons for believing that, when registered, it will be able to carry out its objects successfully; and

        (b)     a copy of the rules which it is proposed to tender for registration.

S. 8(4) repealed by No. 6821 s. 4(c).

    *     *     *     *     *

S. 8(5) amended by Nos 6821 s. 4(d), 36/1990 s. 13(a).

    (5)     If at the same or any subsequent or adjourned meeting, after consideration of the statement and rules, five or more such persons as aforesaid approve the rules with or without amendment and sign an application for membership, they shall proceed to elect the first directors of the society in accordance with the rules as so approved.

    (6)     Within two months after the election of directors an application shall be made in the prescribed manner to the registrar for the registration of the society and shall be accompanied by—

        (a)     a statutory declaration or statutory declarations by the persons who acted as chairman and secretary of the meeting as to compliance with the requirements of this section;

        (b)     a copy of the statement presented to the meeting;

S. 8(6)(c) amended by Nos 6821 s. 4(e), 36/1990 s. 13(a).

        (c)     two copies of the proposed rules signed by not less than five applicants for membership, each of whose signatures shall be attested by a witness;

        (d)     a list containing the full name and the occupation and address of each director;

        (e)     a list containing the full name and the occupation and address of each applicant for membership and the number of shares subscribed for by him; and

        (f)     such other particulars as are prescribed by regulation:

Provided that where before the expiration of the said period of two months a request in writing for the extension of that period is lodged with the registrar and the registrar is satisfied that circumstances beyond the control of the society have precluded and will preclude the making of the application for registration within the said period of two months, the registrar may if he thinks fit by writing extend the period for the making of the application by such further period (not exceeding one month) as he thinks proper, and in any such case the making of the application within such further period shall be deemed and taken to be in compliance with the provisions of this Act.

    (7)     The statutory declaration or statutory declarations mentioned in subsection (6) of this section may be accepted by the registrar as sufficient evidence of compliance with the requirements of this section.

S. 8(8) amended by Nos 8339 s. 2(1)(Sch. 2 item 2(i)), 36/1990 s. 13(b).

    (8)     If the registrar is satisfied that the society has complied with the provisions of this Act and the regulations, that the proposed rules of the society are not contrary to this Act or to the regulations and are suitable and sufficient for the purposes of the society, and that there are reasonable grounds for believing that the society will be able to carry out its objects successfully, the registrar may register the society and its rules and issue a certificate in the prescribed form to the effect that the society is incorporated under this Act.

    (9)     The expenses of and incidental to the formation of the society may be paid either out of capital or out of income.

No. 6138 s. 9.