eSwatini
Co-operative Societies Act, 1964
Act 28 of 1964
- Commenced on 1 August 1964
- [This is the version of this document at 1 December 1998.]
Part I – Preliminary
1. Short title
This Act may be cited as the Co-operative Societies Act, 1964.2. Interpretation
Part II – Registration
3. Appointment of Commissioner and Assistant Commissioners
4. Societies which may be registered
Subject to the provisions of this Act, a society which has as its object the promotion of the economic interest of its members in accordance with co-operative principles; or the facilitating of the operations of such a society; may be registered in terms of this Act, with or without limited liability:Provided that the liability of a society which included at least one registered society among its members shall be limited.5. Conditions of registration
6. Application for registration
7. Registration
8. Incorporation
Upon registration of a society it shall be a body corporate under its registered name with perpetual succession and power to hold property, to enter into contracts, institute and defend suits and other legal proceedings and to do all things necessary for the purpose of its Bye-laws.9. Evidence of registration
A certificate of registration under the hand of the Commissioner shall be conclusive evidence that the society therein mentioned is duly registered, unless it is proved that the registration of the society has been cancelled.10. Probationary societies
Part III – Duties and privileges of societies
11. Amendment of Bye-laws
12. Address of society
13. What is to be open for inspection
14. Disposal of produce to or through a registered society
15. Charge and set-off in respect of shares
A registered society shall have a charge upon the share or other interest in the capital of the society and on the deposits of a member or past member or deceased member upon any dividend, bonus or profits payable by the society to a member or past member or to the estate of a deceased member in respect of any debt due to the society from that member or past member or estate and may set off any sum credited or payable to a member or past member or estate of a deceased member in or towards payment of such a debt.16. Creation of charges in favour of registered societies
Subject to any prior claim of the Government on the property of the debtor and to the lien or claim of a landlord in respect of rent or any money recoverable as rent and in the case of immovable property to any prior registered charges thereon—17. Non-liability to attachment or sale of shares etc.
Subject to section 15, the share or other interest of a member in the capital of a registered society shall be not liable to attachment or sale under decree or order of a court of law in respect of a debt or liability incurred by such a member, and neither his trustee or assignee in insolvency nor a curator bonis duly appointed shall be entitled to, or have any claim on, such a share or other interest.18. Notice of intention to sue society
No civil summons shall be issued out of any court of law against a registered society unless the party applying for the summons has given at least seven days’ written notice to the Commissioner of his intention to do so.19. Transfer of interest on death of member
20. Register of members
A Register or list of members kept by any registered society shall be prima facie evidence of any of the following particulars entered therein—21. Proof of entries in book of society
22. Amalgamation or transfer of societies
23. Division of societies
24. Conversion of company into society
Part IV – Rights and liabilities of members
25. Qualification for membership
In order to be qualified for membership of a co-operative society a person, other than a registered society, shall—26. Exercise of rights
No member of a registered society shall exercise the rights of a member unless he has made such payment to the society in respect of membership, or acquired such share or other interest in the capital of the society, as may be prescribed or set out in the Bye-laws of the society.27. Restriction as to membership
Except with the sanction of the Commissioner, no person shall be a member of more than one registered society of which the liability is not limited or the primary objects include the granting of loans.28. Votes of members
29. Representation by proxy
Unless the Bye-laws so provide or except with the written sanction of the Commissioner, which may be withdrawn at any time, voting by proxy shall not be allowed:Provided that a registered society, which is a member of any other registered society, may, subject to the Bye-laws of that other registered society, appoint any of its members as delegates to vote in the conduct of the affairs of the other registered society.30. Contract between members who are minors and society
31. Maximum shareholding
No member, other than a registered society, shall hold more than one-fifth of the share capital of any co-operative society.32. Restrictions on transfer of share or interest
33. Liability of past member and estate of deceased member for debts of society
Part V – Management of societies
34. General meeting
The control of the affairs of a registered society is hereby vested in the general meeting of the members summoned in accordance with the Bye-laws of the society and the Regulations.35. Powers of committee
36. Payment of committee
Subject to any express provision in the Regulations, members of the committee shall not, except with the written permission of the Commissioner, hold any office of profit under the society, or receive any honorarium upon retirement or relinquishment of office or on any other occasion.37. Compliance with Commissioner’s directions in a report
38. Dissolution of committee
Part VI – Properties and funds of a registered society
39. Financial provisions
40. Loans made by a registered society
41. Deposits and loans received by a registered society
A registered society may receive deposits and loans from persons who are not members to such extent and under such conditions as may be prescribed by Regulation or by the Bye-laws of the society.42. Restrictions on transactions with non-members
Save as provided in sections 40 and 41, transactions of a registered society with persons other than members shall be subject to such prohibitions and restrictions as may be prescribed.43. Investment of funds
A registered society may invest or deposit its funds—44. Disposal of profits
Part VII – Audit, inspection and inquiry
45. Audit
46. Power of Commissioner to inspect societies’ books
47. Inquiry and inspection
48. Penalties for failure to furnish information or perform other acts
Part VIII – Liquidation
49. Liquidation
50. Liquidation due to lack of membership
51. Appointment of liquidator
52. Liquidator’s powers
53. Power of Commissioner to control liquidation
A liquidator shall exercise his powers subject to the control and revision of the Commissioner who may—54. Appeal against decision, etc. of liquidator
55. Enforcement of orders, etc.
Any action, decision or direction of a liquidator in terms of section 52 or an order made in terms of section 53 or a decision under section 54 may be enforced, by a court of law having jurisdiction, in the same manner as a judgment of the court.56. Power of Commissioner to surcharge
57. Limitation of jurisdiction of court
Subject to this Act, no court of law shall have any jurisdiction in respect of any matter concerned with the winding-up of a registered society.58. Competition of liquidation
59. Cancellation of registration
Part IX – Disputes
60. Settlement of disputes
61. Case stated on question of law
Notwithstanding section 60, the Commissioner, at any time after a dispute has been referred to him in terms of that section or the Minister, at any time after an appeal has been referred to him against any decision of the Commissioner under this Act, may state a question of law arising out of the dispute or decision, as the case may be, for the opinion of the High Court and the opinion of that court shall be final.Part X – Miscellaneous
62. Regulations
63. Prohibition of use of word "co-operative"
64. Recovery of sums due to Government
65. Power to exempt society from requirements as to registration
Notwithstanding anything contained in this Act, the Minister may, in his discretion, by written order in each case, under subject to such conditions as he may impose, exempt any society from any of the requirements of this Act as to registration.66. Power to exempt societies from provision of Act
The Minister may, in his discretion, by special or general written order, exempt a registered society or class of registered society from any of the provisions of this Act, or may direct that those provisions shall apply to a registered society or class of registered society with effect from such date, or with such modifications, as may be specified in the order.67. Licences
68. Power to exempt from stamp duty and registration fees
69. Exemption from certain taxes and duties
70. Compulsion to market to or through a registered society
71. Penalty for soliciting violation of contract
72. Nomination to committee of registered society
History of this document
01 December 1998 this version
Consolidation
01 August 1964
Commenced
Cited documents 2
Act 2
1. | Companies Act, 1912 | 362 citations |
2. | Magistrate’s Courts Act | 79 citations |
Documents citing this one 14
Act 6
1. | Companies Act, 1912 | 362 citations |
2. | Land Speculation Control Act, 1972 | 47 citations |
3. | Registration of Businesses Act, No. 42 of 1933 | 21 citations |
4. | Citrus Act, 1967 | |
5. | Land and Agricultural Loan Fund Act, 1929 | |
6. | Tobacco Act, 1933 |
Gazette 4
Judgment 2
Kings Order in Council 2
1. | Financial Institutions (Consolidation) Order, 1975 | |
2. | Swaziland Development and Savings Bank Order, 1973 |