Section 45 in The U.P. Co-operative Societies Rules, 1968
45. [ [Substituted by Notification No.4410/XII-C-1-85-7(5)-84-U.P.A.-II-1966-Rules-1968-AM(12)-1985, dated 5th Dec., 1985.]
No joint stock company shall be admitted as an ordinary member in -(i)an Apex or Central Bank other than a Primary Urban Co-operative Bank or an Urban Central Bank;Provided that the total membership of such companies in a Primary Urban Co-operative Bank or Urban Central Bank shall not, without the prior approval of the Registrar, exceed five per cent of the total membership of such bank;(ii)a Primary Agricultural Credit Society.]
