Section 30 in The Gujarat Co-Operative Societies Act, 1961
30. Restrictions on transfer of share or interest.
(1)Subject to the provisions of Section 29 and sub-section (2) a transfer of, or charge on, the share or interest of a member in the capital of a society shall be subject to such conditions as may be prescribed.(2)A member shall not transfer any share held by him, or his interest in the capital or property of any society, or any part thereof, unless,-(a)he has held such share or interest for not less than one year;(b)the transfer or charge is made to the society, or to a member of the society, or to a person whose application for membership has been accepted by the society; and(c)the committee has approved such transfer.
