Published: 1989-05-12
Key Benefits:
ARRANGEMENT OF SECTIONS
PART I
Preliminary
SECTION
1. Short title
2. Interpretation
PART II
Commissioner for Co-operative Development
3. Powers of the Minister to foster and encourage co-operative development
4. Appointment of Commissioner
5. Duties of Commissioner
6. Register of co-operative societies
7. Form of register
PART III
Registration
8. Societies which may be registered
9. Statement of co-operative principles
10. Application for registration
11. Name of society
12. Compulsory bye-laws
13. Requirements before registration
14. Power to request additional information
15. Registration
16. Refusal of registration
17. Provisional registration
PART IV
Rights and Duties of Societies
18. Societies to be bodies corporate
19. Registered address
20. Amendment by bye-laws
21. Copy of Act and bye-laws to be open to inspection
22. Register of members and officers
23. Effect and proof of entry in books of a society
24. Disposal of produce to or through society
25. Charge and set-off extended to shares and interest in capital
26. Shares and other interests not liable to attachment
27. Transfer of interest on death
PART V
Rights and Liabilities of Members
28. Definition of member
29. Qualifications for membership
30. Minor's contracts with societies
31. Members not to exercise rights till payment made
32. Maximum size of share holding
33. Restrictions on membership in a society
34. Voting
35. Restrictions on transfer of shares
36. Liability of past members or estate of deceased members
37. Withdrawal from membership
38. Removal of persons ceasing to qualify for membership
39. Expulsion
40. Nominations
PART VI
Management and Administration
41. General meetings
42. Provisional committee
43. First general meeting
44. Annual General Meeting
45. Business at an Annual General Meeting
46. Special General Meeting
47. Notice of general meeting
48. Proceedings at general meeting
49. Committee of management
50. Election of committee
51. Qualification for election to the committee
52. Disqualification
53. Removal from the committee by the general meeting
54. Duties of the committee
55. Authentication of documents
56. Validity of acts of the committee
57. Delegation by the committee
58. Proceedings of the committee
59. Duty of care of the committee
60. Payments to officers
61. Election of chairman, secretary and treasurer
62. Duties of chairman
63. Duties of secretary
64. Duties of treasurer
65. Duties of manager
66. Optional power to appoint a supervisory board
PART VII
Property and Funds
67. Creation of funds and sources of capital
68. Loans made by societies
69. Deposits and loans
70. Investment of funds
71. Restriction on capital expenditure
72. Statutory Reserve Fund
73. Distribution of net surplus
74. Commissioner's consent to payment
PART VIII
Accounts and Audit
75. Duty to keep accounting records
76. Records to be kept at the registered address
77. Accounting reference date
78. First accounting reference period
79. Duty of committee to prepare profit and loss account and balance sheet
80. Report by the committee
81. Annual accounts to be laid before the Annual General Meeting
82. Annual accounts to be lodged with the Commissioner
83. Audit
84. Nomination of external auditor
85. Fee of external auditor
86. Appointment of qualified head of audit section
87. Delegation of audit function to secondary society
88. Audit reports to members, committee and Commissioner
89. Co-operative Central Fund to replace Audit and Supervision Fund
PART IX
Amalgamation and Division
90. Amalgamation of societies
91. Division of a society
PART X
Disputes
92. Settlement of disputes
93. Case stated on question of law
PART XI
Liquidation
94. Liquidation
95. Liquidation due to lack of membership
96. Appointment of liquidator
97. Liquidator's powers
98. Power of Commissioner to control liquidation
99. Appeal against orders
100. Limitation of the jurisdiction of a civil court
101. Closure of liquidation
102. Cancellation of registration
PART XII
Powers of the Commissioner
103. Power to supply assistance
104. Commissioner may convene meetings
105. Miscellaneous powers of the Commissioner
106. Commissioner may attend meetings
107. Inspection of society
108. Discussion of inspection report
109. Investigation of a society
110. Restoration of misapplied property
111. Appointment of special officer
112. Appointment of special members
113. Removal of the committee by the Minister
PART XIII
General
114. Power of the Minister to make regulations
115. Power of the Minister to amend Schedules 2 and 3
116. Prohibition of the use of "co-operative" or "tshwaragano"
117. Use of Setswana at Commissioner's discretion
118. Enforcement of duty to make return
119. Notice of intention to sue society
120. Offences
121. Recovery of a society's property
122. Default penalty and default fine
123. Exemption from liability for acts or omissions of Government officers
124. Companies Act not to apply
125. Savings
Schedule 1 - Compulsory Bye-laws
Schedule 2 - Proceedings at General Meetings
Schedule 3 - Disputes Procedure
[Date of Commencement: 12th May, 1989]
This Act may be cited as the Co-operative Societies Act.
In this Act unless the context otherwise requires-
"accounting reference date" has the meaning given to it by section 77;
"accounting reference period" has the meaning given to it by section 78;
"bonus" means the share in the net surplus of a society divided amongst its members in accordance with section 73 subsection (5);
"bye-laws" means the registered bye-laws made by a society in exercise of any power conferred by this Act, and includes a registered amendment of the bye-laws;
"Commissioner" means the Commissioner for Co-operative Development appointed under section 4 and includes any person on whom any or all the powers of the Commissioner have been conferred in accordance with this Act;
"committee" means the committee of management of a society;
"Co-operative Central Fund" means the Fund established under section 89;
"dividend" means a share of the net surplus of a society divided amongst its members in proportion to the share capital held by them;
"honorarium" means a share in the net surplus of a society divided amongst some or all of the members of the committee, chairman, the secretary or the treasurer in consideration of their services which would not otherwise be remunerated;
"legal personal representative" in relation to a person who is dead means the person who in law or in customary law, whichever may be applicable, represents the estate of that person;
"officer" means the chairman, vice-chairman, secretary, treasurer, members of the committee or of any supervisory board or manager of a society and includes any employee or other person empowered under this Act, any regulations or the bye-laws of a society to give directions in regard to the business of a society or to supervise such business;
"primary society" means a society whose membership is restricted to individuals;
"producers society" means a society one of whose objects is the provision of paid work for its members;
"school society" means a society whose membership is restricted to the pupils and staff of a school;
"secondary society" means a society whose membership is restricted to societies registered under this Act; such societies may be primary societies or secondary societies or both;
"society" means a co-operative society registered in terms of this Act;
"society with limited liability" means a society in which the liability of its members is limited by its bye-laws to-
(a) the amount unpaid on the shares held by them; or
(b) such amount as they may undertake to contribute to the assets of the society in the event of its being liquidated;
"society with unlimited liability" means a society the members of which are jointly and severally liable-
(a) for all its obligations; and
(b) to contribute to any deficit in its assets in the event of its liquidation;
"special resolution" means a resolution passed by a majority of not less than three-fourths of the members present and voting at a general meeting of which due notice has been given of the intention to propose the resolution as a special resolution and at which not less than one-half of the total membership is present.
