Section 33
Restriction on holding of shares.
The Multi-State Co-operative Societies Act, 2002
About this Act
An Act to consolidate and amend the law relating to co-operative societies, with objects not confined to one State and serving the interests of members in more than one State, to facilitate the voluntary formation and democratic functioning of co-operative s as peoples institutions based on self-help and mutual aid and to enable them to promote their economic and social betterment and to provide functional autonomy and for matters connected therewith or incidental thereto.
No member, other than the authorities referred to in clauses
(c) to (g) of sub-section (1) of section 25 or a multi-State co-operative society or a co-operative society,
shall hold more than such portion of the total share capital of the society (in no case exceeding one-fifth
thereof) as may be prescribed in the rules or bye-laws of such multi-State co-operative society.