Section 6 in The Punjab Co-operative Societies Act, 1961
6. [ Restrictions on holding of shares. [Substituted by Punjab Act No. 25 of 2014.]
- No member other than the Government, a Public Sector Undertaking or a co-operative society shall, hold more than such portion of the share capital of a co-operative society, as may be prescribed which in no case shall exceed one-tenth of the share capital:Provided that in the case of milk producers co-operative society engaged in the marketing of such other perishable commodity, as may be notified by the Government, from time to time, in this behalf (hereinafter referred to as `society dealing in notified commodity') registered after the commencement of the Punjab Co-operative Societies (Amendment) Act, 1978, no member shall have or claim any interest in the shares of such society exceeding one thousand rupees.]
