10. The following new sections are hereby inserted immediately after section 11 of the principal enactment and shall have effect as sections 11A, 11B, 11C and 11D of that enactment;"
| 11A. A member may commence payment for the purchase of any share with an initial payment of rupees ten and, shall increase payment of such installment to rupees one hundred within one year from the date of such initial payment. The minimum value may be increased as desired red. The total value of a share may be paid in a single installment: |
|
| 11B. A member shall be entitled to volt at any meeting of a registered society and be elected to any office in such society only after obtaining full membership. |
|
| 11C. No person who is a member of Parliament, Provincial Council, Municipal Council, Urban Council or Pradeshiya Sabha shall be eligible to be elected to or continue in office as a member of the committee of a registered Co-operative Society. |
|
| 11D. A person shall be disqualified from being elected as a Chairman of a registered Society, the membership of which consists of registered societies, if he is on the date of his election, the Chairman of any other register ed society, the objects of which are not similar to the objects of the first-mentioned society, the membership of which consisted of registered societies". |
|
|
Sri Lanka Consolidated Acts