Section 18(3) in The Punjab Co-operative Societies Rules, 1963
(3)No member of a co-operative society with limited liability shall ordinarily be permitted to seek withdrawal or refund of his shares :Provided that where the society has created a share-transfer fund out of its earned profits, its managing committee may, keeping in view the overall interests of the society, allow withdrawal of shares:Provided further that such withdrawal of shares at any time shall not exceed five per cent of the aggregate paid-up share capital of the society, excluding Government contributions, as it stood on the 30th June of the preceding year.
