Rules

(1) The Minister may make all such rules as may be necessary for the purpose of carrying out or giving effect to the principles and provisions of this Act. (2) In particular and without prejudice to the generality of the power conferred by subsection (1) of this section, such rules may, (a) prescribe the forms to be used and the conditions to be complied with in applying for the registration of a society and the procedure in the matter of such applications; (b) prescribe the conditions to be complied with by persons applying for admission or admitted as members and provide for the election and admission of members from time to time, and the payment to be made and interest to be acquired before exercising rights of membership; (c) subject to the provisions of section 27 of this Act, prescribe the maximum number of 28 shares or portion of the capital of a registered society which may be held by a member; (d) prescribe the extent to which a registered society may limit the number of its members; (e) provide for the withdrawal and expulsion of members and for the payments to be made to members who withdraw or are expelled, and for the liabilities of past members; (f) provide for general meetings of the members and for the procedure at such meetings and the powers to be exercised by such meetings; (g) provide for the appointment, suspension and removal of the members of the committee and other officers, and for the procedure at meetings of the committee, and for the powers to be exercised and the duties to be performed by the committee and other (h) prescribe the matters in respect of which a society may or shall make by-laws and for the procedure to be followed in making, altering and rescinding by-laws, and the conditions to be satisfied prior to such making, alteration or rescission; (i) regulate the manner in which funds may be raised by means of shares or debentures or otherwise; (j) prescribe the conditions to be observed by a registered society applying for financial assistance from Government; 29 (k) prescribe the payments to be made, the conditions to be complied with, and the forms of the bonds, instruments or other documents to be executed, by members applying for loans or cash credits, the period for which loans may be made or credits granted, and the maximum amount which may be lent and the maximum credit which may be allowed to individual members with or without the consent of the Registrar; (l) provide for the mode in which the value of a member’s shall be ascertained, and for the nomination of a person to whom such interest may be paid or transferred; (m) provide for the mode in which the value of the interest of a member who has become of unsound mind and incapable of managing himself or his affairs shall be ascertained and for the nomination of any person to whom such interest may be paid or transferred; (n) provide for the formation and the maintenance of reserve funds, and the objects to which such funds may be applied, and for the investment of any funds under the control of any registered society; (o) prescribe the conditions under which profits may be distributed to the members of a society with unlimited liability and the maximum rate of dividends which may be paid by societies; (p) prescribe the accounts and books to be kept by a registered society, and for the periodical publication of a balance sheet showing the assets and liabilities of a registered society; (q) provide for the audit of the accounts of registered societies and for the charges, if any, to be made for such audit and provide for the levy of contributions from all or any registered societies to a fund to be used for the audit and supervision of existing societies and co-operative propaganda and prescribe for the administration of such a fund; (r) prescribe the returns to be submitted by registered societies to the Registrar, and the persons by whom and the form in which the same are to be made; (s) provide for the persons by whom, and the form in which, copies of entries in books of registered societies may be certified; (t) provide for the formation and maintenance of a register of members and, where the liability of members is limited by shares, of a register (u) provide for the inspection of documents and registers at the Registrar’s Office and the fees to be paid therefor and for the issue of copies of such documents or registers; (v) prescribe the manner in which any question as to the breach of any by-law or contract relating to the disposal of produce to or through a society, may be determined, and the manner in which the liquidated damages for any such breach may be ascertained or assessed; 31 (w) prescribe the mode of appointing an arbitrator or arbitrators and the procedure to be followed in proceedings before the Registrar or such arbitrator or arbitrators; (x) prescribe the procedure to be followed by a liquidator appointed under section 41 of this Act and the cases in which appeals shall lie from the orders of such liquidator. (y) prescribe the forms to be used, the fees to be paid, the procedure to be observed and all other matters connected with or incidental to the presentation, hearing and disposal of appeals under this Act or the rules. (3) All rules made and fees prescribed under this section shall be subject to the approval of the National Assembly.