Section 22 in The Orissa Co-operative Societies Act, 1962
22. Restriction of holdings of shares.
- In any Society no member belonging to the category mentioned in Clause (a) of Sub-section (1) of Section 16 shall -(a)hold more than such portion of the total share capital of the Society not exceeding one-tenth thereof as may be prescribed; or(b)have or claim any interest in the shares of the Society exceeding five thousand rupees :Provided that the State Government may, by notification, specify in respect of any class of Societies a higher maximum than one-tenth of the share capital or a higher amount than five thousand rupees, as the case may be.
