Section 79 in The Delhi Co-Operative Societies Act, 2003
79. Restriction on transfer of share or interest of a member.
- Subject to the provisions of this Act, in the case of a co-operative housing society, no transfer of share or interest of a member or the occupancy right, except the transfer to his heir or a nominee, shall be effective, unless -(a)the previous permission of the co-operative housing society has been obtained by the transferor; [***] [The words "by paying the transfer fee" omitted by Delhi Act 8 of 2006 section 8](b)the dues of the co-operative housing society are paid or transferred to the transferee with the consent of the co-operative housing society;(c)the transferor vacates and gives possession of the premises to the transferee; and(d)the transferee applies and acquires membership of the co-operative society :Provided that the transfer of share or interest in respect of lease hold properties shall be governed by the terms of the lease.
