Cooperative Societies Act

1. "apex society" means a registered society under this Act, the membership of which is restricted to secondary and tertiary cooperatives societies and cooperative bank and includes a society established to serve the cooperative movement by providing facilities for banking, insurance and the supply of goods or services;
2. "beneficial owner" means a natural person who ultimately owns or controls a cooperative society or the natural person on whose behalf a transaction is conducted in the cooperative society, and includes a natural person who exercises ultimate control over a cooperative society;
3. "Board" means the Board of Directors of the Uganda Cooperative Alliance Ltd.;
4. "bonus" means a share of the surplus of a registered society divided among its members in proportion to the volume of business done with the society by them from which the surplus of the society was derived;
5. "byelaws" means the registered byelaws made by a society in the exercise of any power conferred by this Act, and includes a registered amendment of those byelaws;
6. "Commissioner" means the Commissioner for Cooperative Development and includes the assistant commissioners for cooperative development when acting for the Commissioner;
7. "committee" means the governing body of a registered society to which the management of its affairs is entrusted and includes a Board of Directors;
8. "cooperative bank" means a bank formed to serve primarily the cooperative societies;

18 further items remain in the statutory text above.

1. (1) There shall be a Registrar for Cooperative Societies who shall also be the commissioner for cooperative development for the purposes of this Act.
2. (2) The Registrar shall be a public officer responsible for providing and administering the services required by societies for their formation, organisation, registration, deregistration, operation and advancement and for carrying out the provisions of this Act.
3. (3) There shall be three deputy registrars who shall be deputy commissioners, one of whom shall be responsible for the administration of cooperative societies, while the other shall be responsible for the implementation of the legal provisions of this Act.
4. (4) All officers of the rank of assistant cooperative officer and above shall be assistant registrars of cooperative societies for the purpose of this Act.
5. (5) Every district shall have a district cooperative officer and staff who shall report to the Commissioner, or a person designated by him or her.
6. (6) The Minister may, by statutory order, confer or impose on any assistant registrar for cooperative societies all or any of the powers and duties conferred or imposed on the Registrar by this Act.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. Subject to this Act, a society which has for its object the promotion of the economic and social interests of its members in accordance with cooperative principles and which, in the opinion of the Registrar, is capable of promoting those interests may be registered under this Act with or without limited liability; except that a cooperative union or any apex society shall be registered with limited liability.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. (1) A society shall not be registered under this Act unless-
2. (a) it consists of at least thirty persons all of whom are qualified for membership of the society under section 15;
3. (b) in the case of a secondary society, it consists of at least two registered primary societies among its registered members;
4. (c) in the case of a tertiary society, it consists of at least two registered secondary societies among its registered members; or
5. (d) in the case of an apex society, it consists of two or more secondary or tertiary societies.
6. (2) Notwithstanding subsection (1)(a), the Registrar may register a society of a unique nature, consisting of less than thirty persons all of whom qualify for membership under section 15.
7. (3) The Uganda Cooperative Alliance Limited shall be administered in accordance with the provisions of this Act and other laws governing cooperative societies.
8. (4) A cooperative society shall incorporate in its proposed byelaws, a statement on cooperative identity as specified in Schedule 2 to this Act.

1 further item remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) For the purpose of registration, an application to register a society shall be made to the Registrar.
2. (2) The application shall be signed-
3. (a) in the case of a primary society, by at least thirty persons qualified for membership of the society under section 15; and
4. (b) in the case of a secondary, tertiary or apex society, by person duly authorised for that purpose by each registered society, who is a member of that society.
5. (3) The application shall be accompanied by four copies of the proposed byelaws of the society in English, and the persons by whom or on whose behalf the application is made shall furnish such information in regard to the society as the Registrar may require.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Where the Registrar is satisfied that a society has complied with this Act and regulations made under it and that its proposed byelaws are not contrary to the provisions of this Act, he or she shall register the society and its byelaws on probation for a period not exceeding twenty-four months.
2. (2) If at the expiration of twenty-four months, the Registrar is satisfied with the performance of the society, he or she shall register the society permanently, if the society complies with the conditions prescribed by regulations.
3. (3) Where at the expiration of twenty-four months, the Registrar is not satisfied with the performance of the society, he or she may either cancel the registration or extend the probationary period by a period not exceeding twelve months; and if after the extension he or she is still not satisfied with the performance of the society, he or she shall cancel the registration of the society.
4. (4) Where the Registrar cancels the registration of a society under subsection (3), then the provisions of sections 130 and 131 concerning the appointment of a liquidator and his or her powers shall apply.
5. (5) A society registered under subsection (1) shall become a body corporate by the name under which it is registered probationary, with perpetual succession and a common seal, and with power to hold movable and immovable property of every description, to enter into contracts, to institute and defend suits and other legal proceedings and to do all things necessary for the purpose of its constitution; and any reference in any written law to a registered society shall include a society which is registered under this section.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A contract which purports to be made on behalf of a cooperative society before the cooperative society is formed, has effect, as one made with the person purporting to act for the cooperative society.
2. (2) A cooperative society may adopt a pre-incorporation contract with its formation and registration made on its behalf without a need for novation.
3. (3) In all cases where the cooperative society adopts a pre-incorporation contract, the liability of the promoter of that cooperative society shall cease.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. A society which is registered under section 6(1) shall state in legible letters in all its receipt heads, letter papers, notices, advertisements or other official publications that it is registered probationary and shall indicate the same on a signboard in a conspicuous position outside any premises or office in which it carries on its business

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. (1) At any time during the period of registration of a society under section 6(1), the Registrar may, by notice in writing to the person responsible for the running of the society, cancel the registration on probation of the society stating the reasons for the cancellation; and the society shall, from the date of service of the notice, cease to be a registered society.
2. (2) The cancellation referred to in subsection (1) shall be gazetted and published in at least one of the English newspapers in Uganda.
3. (3) Where a society registered under section 6(1) contravenes or fails to comply with section 8, that society and any officer or person who purports to act on its behalf commits an offence and is liable, on conviction, to a fine not exceeding 0.5 of a currency point and in the case of a continuing offence to a further fine not exceeding 0.05 of a currency point for each day on which the offence is continued after conviction of the offence.
4. (4) A cooperative society shall be deregistered if its membership falls below the prescribed number in section 4.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A registered society may, subject to this Act, amend its byelaws, including a byelaw which declares the name of the society.
2. (2) An amendment of the byelaws of a registered society shall not be valid until the amendment has been registered under this Act, for which purpose a copy of the amendment shall be forwarded to the Registrar.
3. (3) Where the Registrar is satisfied that an amendment of the byelaws is not contrary to the provisions of this Act, he or she shall register the amendment.
4. (4) An amendment which changes the name of a registered society shall not affect any right or obligation of the society or any of its members or past members, and any legal proceedings pending may be continued by or against the society under its new name.
5. (5) When the Registrar registers an amendment of the byelaws of a registered society, he or she shall issue to the society a copy of the amendment certified by him or her which shall be conclusive evidence of the fact that the amendment has been duly registered.
6. (6) Where it appears to the Registrar that an amendment of the byelaws of a society is necessary or desirable in the interest of the society, he or she may call upon the society, subject to any regulations made under this Act, to make the amendment within the time as he or she may specify.
7. (7) Where the society fails to make the amendment within the time specified, the Registrar may, after giving the society an opportunity of being heard, himself or herself make and register the amendment and issue to the society a copy of that amendment, certified by him or her.
8. (8) With effect from the date of registration of an amendment under subsection (7), the byelaws shall be deemed to have been duly amended accordingly; and the byelaws as amended shall, subject to any appeal made in accordance with this Act, be binding on the society and its members.

3 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. From every refusal of the Registrar to register a society or its byelaws or any amendment of its byelaws, an appeal shall lie, in accordance with any regulations made under this Act, to the Board whose decision, subject to section 144, shall be final

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A society shall not be registered under a name identical with that under which any other existing society is registered, or under any name likely in the opinion of the Registrar to mislead the members of the public as to its identity.
2. (2) The word "Cooperative" shall form part of the name of every society registered under this Act, and the word "Limited" shall be the last word in the name of every society with limited liability registered under this Act.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A certificate of registration signed by the Registrar shall be conclusive evidence that the society mentioned in it is duly registered unless it is proved that the registration of the society has been cancelled.
2. (2) Where the Registrar is satisfied that a society's original certificate of registration has been lost or destroyed, he or she may issue a duplicate certificate.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A cooperative society with beneficial owners shall keep a register of its beneficial owners and shall enter in register the following particulars-
2. (a) the names, contact and postal addresses of each beneficial owner;
3. (b) the national identification number (NIN) of each beneficial owner;
4. (c) the nature of the beneficial ownership;
5. (d) the date on which each beneficial owner was entered in the register as a beneficial owner;
6. (e) the date on which any person ceased to be a beneficial owner; and
7. (f) any other information as the Minister may prescribe by regulations.
8. (2) The register of beneficial owners shall be kept at the registered office of the cooperative society except that-

6 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) In order to be qualified for membership of a registered society, any person, other than a registered society or a company incorporated under the Companies Act or an unincorporated body of persons permitted to become a member under section 17, shall-
2. (a) have attained the age of eighteen years; and
3. (b) be a resident within or in occupation of land within the society's area of operation as prescribed by the relevant byelaw.
4. (2) A person above the age of twelve years may become a member of a society, but that person shall not be eligible to act as a committee member of the society until he or she has reached the age of eighteen years.
5. (3) When, for the purpose of this section, any question arises as to the age of any person, that question shall be decided by the Registrar, whose decision shall be final.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. A member, other than a registered society, shall not hold more than one-third of the paid-up share capital of any cooperative society

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. A company incorporated or registered under the Companies Act and an unincorporated body of persons shall not be entitled to become a member of a registered society, except with the written permission of the Registrar

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. (1) A member of a registered society shall not exercise any of the rights of a member until he or she has made such payment to the society in respect of membership or has acquired such interest in the society as may be prescribed by regulations made under this Act or by the byelaws of the society.
2. (2) A member of a cooperative society shall have a right to-
3. (a) attend, participate and vote for decisions taken at all general meetings of the society;
4. (b) be elected to organs of the society subject to its byelaws, policies and resolutions of the general meeting;
5. (c) enjoy the use of all facilities and services of the society subject to the society byelaws, policies and resolutions of the general meeting; and
6. (d) access all legitimate information relating to the society.
7. (3) A member shall-
8. (a) observe and comply with all the byelaws of the society and decisions taken by the relevant organs of the cooperative society in accordance with the byelaws of the society;

3 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Each member of a registered society shall have one vote only as a member in the affairs of the registered society.
2. (2) A registered society, a cooperative union or an apex society which is a member of any other registered society shall have as many votes as may be prescribed by the byelaws of the other society, and may, subject to those byelaws, appoint any number of its committee members, not exceeding the number of those votes, to exercise its voting power.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Every society shall have a Board consisting of an odd number of members not less than five and not exceeding nine.
2. (2) The Board shall be the governing body of the society and shall, subject to any direction from the general meeting or the byelaws of the society, direct the affairs of the society with powers to-
3. (a) enter into contracts;
4. (b) institute and defend suits and other legal proceedings brought in the name of or against the society; and
5. (c) do all other things necessary to achieve the society's object in accordance with its byelaws.
6. (3) In the conduct of affairs of a cooperative society, the members of the Board shall exercise the prudence and diligence of an ordinary person of business and shall be held, jointly and severally, liable for any losses sustained through any of their acts which are contrary to the Act, regulations, byelaws or directions of any general meeting of the cooperative society.
7. (4) The Board shall have the responsibility to appoint management who they shall monitor and supervise for the proper management of the society.
8. (5) A person appointed under subsection (4) to the management of a cooperative society shall-

18 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Save for the Board of a cooperative society provided for in section 20, the annual general meeting shall be responsible for electing a supervisory board of three persons, which shall make, or cause to be made, regular examination of the accounts, records, and affairs of the society and review the action of the officers, Board, and credit committee for conformity with the law, regulations, byelaws, and policies of the society and is answerable to the annual general assembly.
2. (2) The supervisory board may, in consultation with the Registrar, call a special general meeting of the members to consider any violation of the Act, regulations or byelaws, or any practice of the cooperative society considered by the Board to be unsafe or unsound.
3. (3) The supervisory board shall be required to make a record of all its activities available for inspection by the Registrar and the society's auditors and shall present a report of its activities to the general meeting.
4. (4) Members of the supervisory board shall be subjected to the same provisions under section 20(10).
5. (5) The supervisory board shall inform the Registrar in writing within five working days of any recommendations on the management of the society.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (b) the transfer or charge is made to the society or to a member of the society.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Every registered society shall have a registered address to which notices and communications may be sent and shall send to the Registrar notice of every change of address within one month of the change.
2. (2) Every registered society shall display its name and address on a signboard in a conspicuous position outside its place of business.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. Every registered society shall keep a copy of this Act and of the regulations made under it and of its byelaws and a list of its members open to inspection by any person, free of charge at all reasonable times during business hours at the office of the society

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Records management in a society shall be done in accordance with the National Records and Archives Act.
2. (2) There shall be a cooperative archive in the Ministry responsible for cooperatives.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. (1) Every registered society shall cause its accounts to be audited at least once in every year by an auditor appointed by the annual general meeting and approved by the Registrar, and the cost of the audit shall be borne by the society; except that-
2. (a) no auditor chosen by a registered society to audit its books shall perform that function for more than three annual audits in succession unless authorised by the Registrar;
3. (b) where the registered society is unable to appoint its own auditors, the Registrar may appoint the auditors.
4. (2) Notwithstanding subsection (1), the Registrar may cause regular audits of operations of Savings and Credit Cooperative Organisations (SACCOs).
5. (3) Notwithstanding subsection (1), the Registrar may be appointed to carry out audits of a registered society.
6. (4) The Registrar may also cause to be audited societies which have no capacity to audit by a person registered and practicing as an accountant under the Accountants Act.
7. (5) Every society shall give to the Registrar statistics of operations as may be required by the Registrar.
8. (6) Audits shall be conducted in accordance with generally accepted professional audit standards and, in addition, include audit of management efficiency.

17 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) No person shall be appointed or approved as an auditor of the accounts of a registered society unless that person or in case of a firm is a member of the Institute of Certified Public Accountants of Uganda as per the Accountants Act.
2. (2) The Registrar may in certain circumstances appoint an auditor for a limited period, a person who has previously served as an assistant registrar of a cooperative society.
3. (3) The Registrar may, in consultation with the Institute of Certified Public Accountants of Uganda, appoint a person who previously served as an assistant registrar and above to audit primary societies.
4. (4) The Minister may, by statutory instrument, in consultation with the Board and amend the qualifications of auditors specified in this section.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Every committee of a registered society shall cause estimates of the society's income and expenditure of both revenue and capital to be prepared for the coming twelve months at least three months before the end of its financial year.
2. (2) A copy of those estimates shall be sent to the Registrar for an opinion before they are submitted to the general meeting.
3. (3) Supplementary estimates may be prepared by a society during the financial year and submitted to the Registrar for an opinion before they are submitted to the annual general meeting.
4. (4) No development capital expenditure shall be made by a registered society before the committee's estimates have been approved by a general meeting.
5. (5) Where a society contravenes or fails to comply with any provision of this section, that society and any officer or person who purports to act on its behalf commits an offence, and the Registrar shall impose upon the society or officer or person a fine not exceeding 0.25 of a currency point and in the case of a continuing offence a further fine not exceeding 0.025 of a currency point for each day on which the offence is continued.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. (1) Any two or more registered societies may, with the prior approval of the Registrar, amalgamate into a single society.
2. (2) An amalgamation referred to in subsection (1) shall not take place unless-
3. (a) a general meeting of each of the societies has been called;
4. (b) each member of the society has had a clear notice of fifteen days of the meeting; and
5. (c) a preliminary resolution has been passed by a two-thirds majority of the members present at the meeting for the amalgamation.
6. (3) Upon amalgamation of registered societies into a society, the societies shall cease to exist but there shall be division of assets and liabilities in accordance with the agreement governing the amalgamation.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A registered society may by a resolution passed under section 29(2)(c) transfer its assets and liabilities to any other society which agrees to accept them.
2. (2) The transfer of liabilities referred to in subsection (1) shall not be made to any society without giving a notice in writing of ninety days to the creditors of both or more societies concerned in the transfer of these liabilities.
3. (3) Where a creditor objects to an amalgamation decided upon under section 28 or a transfer of liabilities under this section and gives a notice in writing of one month before the date fixed for the amalgamation or transfer of liabilities to the society concerned, the amalgamation or transfer shall not take place until the dues of the creditor have been satisfied or until an agreement for payment of the dues has been made by the society and the creditor.
4. (4) A creditor who is not satisfied with the dues paid to him or her or who does not accept to enter an agreement with the society concerned as provided under subsection (3) may appeal to the Registrar within ninety days from the date of his or her disagreement with the society, and the decision of the Registrar shall be final.

1. (1) A registered society may, with the prior approval of the Registrar, divide itself into two or more societies in accordance with the procedure laid down by regulations made under this Act.
2. (2) A division of a society referred to under subsection (1) shall not take place unless-
3. (a) a general meeting of the members of the society has been called;
4. (b) each member of the society has had a clear notice of at least fifteen days of the meeting; and
5. (c) a resolution has been passed by a two-thirds majority of the members present at the meeting providing for the division.
6. (3) A resolution passed under subsection (2) (hereafter referred to as a preliminary resolution) shall contain proposals for the distribution of the assets and liabilities of the divided society among the societies in which it is proposed to be divided and shall prescribe the area of operation of, and specify the members who may constitute, each of the new societies.
7. (4) A copy of the preliminary resolution shall be sent to all the members of the society and its creditors, and any other person whose interests may be affected by the division shall be informed in writing by the society.
8. (5) A member of the divided society may notify the society in writing, within three months from the receipt of the preliminary resolution, of his or her intention not to belong to any of the new societies, and any creditor may demand from the society within that period a return of the amount due to him or her.

10 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. A society on registration shall become a body corporate by the name under which it is registered, with perpetual succession and a common seal, and with power to hold movable and immovable property of every description, to enter into contracts, to institute and defend suits and other legal proceedings and to do all things necessary for the purpose of its constitution

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (b) make representations to the Government as it may think fit in relation to any matter affecting registered cooperative societies in general or any particular registered society which those societies generally or any such society may request the Board to bring to the notice of the Government; and
2. (c) carry out any other duty assigned to it under this Act.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The byelaws of a registered society shall, when registered, bind the society and its members to the same extent as if they were signed by each member, and contain obligations on the part of each member, his or her heirs, executors, administrators and assignees, to observe all the provisions of the byelaws.
2. (2) It shall not be competent for a member of a registered society to contest any suit, claim, action or proceedings between that member and the society or any other member of the society on the ground that any byelaw of the society constitutes a contract in restraint of trade.

1. (1) A registered society, having as one of its objects the disposal of any agricultural produce, may contract with its members either in its byelaws or by a separate document that they shall dispose of all their produce or of such amounts or descriptions as may be stated in those byelaws or that document, to or through the society, and may in the contract provide for payment of a specific sum per unit of weight or other measure as liquidated damages for infringement of the contract, and that sum shall be a debt due to the society.
2. (2) Any such contract as is mentioned in subsection (1) shall create in favour of the society a first charge upon all produce mentioned in the contract, whether existing or future.
3. (3) The covenants or obligations imposed by any such contract as is mentioned in subsection (1) shall run with any lands, trees, buildings or other structures mentioned in it and shall be binding on all assignees and transferees; and any transfer or conveyance of property subject to the contract shall be deemed to operate also as a like transfer or assignment of the contract.
4. (4) A contract entered into under this section shall not be contested in any court on the ground that it constitutes a contract in restraint of trade.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The byelaws of a registered society may, subject to any regulations made under this Act, provide for the imposition of fines on its members for any infringement of its byelaws; but no such fine shall be imposed upon any member until written notice of intention to impose the fine and the reason for it has been transmitted to him or her and he or she has had an opportunity of showing cause against the imposition of the fine and, if he or she so desires, of being heard with or without witnesses.
2. (2) Any such fine may be recovered by suit in any competent court.
3. (3) The whole or any part of such fine may be set off against any money due to such member in respect of produce delivered by him or her to the society.
4. (4) A member shall not be deemed to have infringed the byelaws of a registered society by reason of his or her having failed to deliver produce to the society if that failure was due to the fact that before becoming a member of the society the member had contracted to deliver the produce to some other person.
5. (5) Every person applying for membership of a registered society shall disclose to the society particulars of all such contracts as are mentioned in subsection (4).

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (b) in respect of the supply of cattle, fodder for cattle, agricultural or industrial implements or machinery, or raw material for manufacture or building or for the loan of money for the purchase of any of the animals or things to be supplied or purchased in whole or in part from any such loan or on any articles manufactured from raw materials supplied or purchased.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. A registered society shall have a first charge upon the shares or interest in the capital and on the deposits of a member or past member and upon any dividend, bonus or accumulated funds payable to a member or past member in respect of any debt due from the member or past member to the society, and may set-off any sum credited or payable to the member or past member in or towards payment of any such debt

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. Subject to section 35, the share or interest of a member in the capital of a registered society shall not be liable to attachment or sale under any decree or order of a court in respect of any debt or liability incurred by the member, and a trustee in bankruptcy under the law relating to bankruptcy for the time being in force shall not be entitled to or have any claim on that share or interest; but where a society is dissolved, the property in the shares of any member who has been adjudicated as bankrupt under any law relating to bankruptcy shall vest in the trustee in bankruptcy

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. The liability of a past member for the debts of a registered society as they existed at the time when he or she ceased to be a member shall continue for two years from the date of his or her ceasing to be member and if the first audit of the accounts of the society after his or her being a member disclose a credit balance in favour of that society, the financial liability of the past member shall forthwith cease

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. The estate of a deceased member shall be liable for one year from the time of his or her decease for the debts of a registered society as they existed at the time of his or her decease; but in the case of a society with limited liability if the first audit of the accounts of the society after his or her decease discloses a credit balance in favour of the society, the financial liability of the estate shall immediately cease

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) On the death of a member, a registered society may transfer he share or interest of the deceased member to the person nominated in accordance with any regulations made under this Act or, if there is no person so nominated, to such person as may appear to the committee of the society to be the legal personal representative of the deceased member or may pay to that nominee or legal personal representative, as the case may be, a sum representing the value of the member's share or interest, ascertained in accordance with any regulations made under this Act or the byelaws of the society; except that the society shall transfer the share or interest of the deceased member to the nominee or legal personal representative, as the case may be, being qualified in accordance with any regulations made under this Act and the byelaws for membership of the society or, on his or her application within one month of the death of the deceased member, to any person specified in the application who is so qualified.
2. (2) A registered society shall pay all other money due to the deceased member from the society to the nominee or legal personal representative, as the case may be.
3. (3) All transfers and payments made by a registered society in accordance with this section shall be valid and effectual against any demand made upon the society by any other person.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A register or list of members or of shares which is kept by any registered society shall be prima facie evidence of any of the following particulars entered in it-
2. (a) the date on which the name of any person was entered in the register or list as member; and
3. (b) the date on which any such person ceased to be a member.
4. (2) A copy of any entry in a book of a registered society regularly kept in the course of business shall, if certified in accordance with any regulations made under this Act, be received in any suit or legal proceedings as prima facie evidence of the existence of the entry, and shall be admitted as evidence of the matters, transactions and accounts recorded in it in every case where and to the same extent as the original entry itself is admissible.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. An officer of a registered society shall not in any legal proceedings to which the society is not a party, be compelled to produce any of the society's books the contents of which can be proved under section 43, or to appear as a witness to prove the matters, transactions and accounts recorded in those books unless by order of the court made for special cause

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Minister responsible for finance may, by statutory order, in the case of a registered society or class of registered societies, reduce or remit-
2. (a) the duty or tax which, under any law for the time being in force, may be payable in respect of the accumulated funds of the society or of the dividends or other payments received by the members of the society on account of accumulated funds;
3. (b) the stamp duty with which, under any law for the time being in force, instruments executed by or on behalf of a registered society or by an officer or member and relating to the business of the society or any class of those instruments are respectively chargeable; and
4. (c) any fee payable under any law relating to registration for the time being in force.
5. (2) In the case of a division, an amalgamation or a transfer of some or all of the assets of a registered society, the Minister shall remit the stamp duty with which, under any law for the time being in force, instruments executed by or on behalf of the society or by an officer or member and relating to the business of the society or any class of those instruments are respectively chargeable.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (b) subject to the prior approval in writing of the Registrar and subject to such conditions as he or she may impose, a registered society may stand surety for a loan to be granted to an employee of that society where the loan is for the benefit of that society.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A registered society shall receive deposits and loans from persons who are not members only to such extent and under such conditions as the Registrar may, in writing, authorise.
2. (2) For the purposes of this section, credit on current account for a period of more than ninety days and a deposit of money under a hire-purchase agreement shall be deemed to be a loan within the meaning of this section.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. Except as provided in sections 45 and 46, the transactions of registered persons other than members shall be subject to such prohibitions and restrictions, if any, as the Registrar may, in writing, direct

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) There shall be a cooperative bank to serve the interests of the cooperative societies, and its individual members as provided in section 48.
2. (2) The cooperative bank shall be regulated by the Bank of Uganda.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (b) in any registered society, company or statutory corporation approved in writing by the Registrar;
2. (c) in any bank or financial institution incorporated in Uganda;
3. (d) in and upon such investment and securities as are by law allowed for the investment of trust funds; or
4. (e) in such other mode as specified by the byelaws of the society and approved by the Registrar.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) No registered society shall pay a dividend or bonus or distribute any part of its accumulated funds without the prior written consent of the Registrar and the written acknowledgement of the Registrar that a balance sheet has been lodged with him or her disclosing the surplus funds out of which the dividend, bonus or distribution is to be made.
2. (2) No society shall pay a dividend to its members exceeding the maximum rate prescribed by regulations made under this Act.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Every society which does or can derive a surplus from its transactions shall maintain a reserve fund.
2. (2) A society shall carry to the reserve fund such portion of the net surplus in each year as may be prescribed by any regulations made under this Act or byelaws of the registered society.
3. (3) Every society shall, with the approval of the Registrar, establish a contributory provident fund for payment of pensions to its permanent employees at the time of their retirement.

Citing judgments are indexed, but no express interpretive proposition has yet passed the passage-verification threshold. Open Judicial treatment for the citing passages.

1. Subject to sections 50 and 51, the net balance of each year, with any sum available for distribution from previous years, may be distributed as may be prescribed by any regulations made under this Act or by the byelaws of the registered society

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. There shall be a National Cooperative Education Fund to which every registered cooperative society shall contribute one percent per year of its net surplus

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Commissioner shall carry out cooperative member education to members of registered societies.
2. (2) The history, philosophy and practices as cooperatives and their role as a factor in the national economy shall be disseminated both in formal and non-formal education.
3. (3) The role of private sector, non-governmental organisations and individuals engaged in cooperative promotion organisation, research and education shall be accredited by the Registrar.
4. (4) The Registrar may accredit such bodies or individuals under subsection (3) as non-academic training bodies.
5. (5) The Registrar shall publish a list of the organisations and individuals accredited under subsection (3), as may be required.
6. (6) Notwithstanding subsections (1), (2), (3), (4) and (5), every registered cooperative society shall provide for five percent of its net surplus in its budgets, funds for cooperative member education.
7. (7) Subject to subsection (1), every cooperative society shall file annual education plans for the society to the Registrar three months before the end of the financial year.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) There is established an Audit and Supervision Fund into which every registered society shall, unless exempted by the Registrar, pay annually a supervision fee and if the society's accounts are audited by an officer of the department of cooperative development, an audit fee.
2. (2) The Registrar may under special circumstances require a registered society to make additional contributions to the Audit and Supervision Fund.
3. (3) The Registrar shall administer the Audit and Supervision Fund on behalf of the contributing registered societies and shall report annually to the Board in respect of the income derived from the fees and expenditure sanctioned from the Board and the balance remaining in the Fund.
4. (4) The Registrar shall fix the fees payable by the registered society under subsection (1).
5. (5) The Audit and Supervision Fund shall be audited annually by the Auditor General.
6. (6) The moneys in the Audit and Supervision Fund existing immediately before the 20th day of March 2020 shall be transferred to the Audit and Supervision Fund established under this Act.
7. (7) Every registered society shall be required to file with the Registrar annual returns and pay a fee thereon which shall be deposited in the Audit and Supervision Fund.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. Schedule 3 to this Act shall apply in relation to the registration of charges against the property of a registered society

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. Any officer, agent, servant or member of a registered society who is required by the Registrar, or any persons authorised in writing, by the Registrar so to do, shall at such place and at such time as the Registrar may direct, produce all money, securities, books, accounts and documents the property of, or relating to the affairs of, the society which are in the custody of the officer of the society, agent, servant or member and which are under his or her control

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Registrar may, in consultation with the Board, hold an enquiry or direct any person authorised by him or her by order in writing n that behalf to hold an inquiry into the constitution, working and financial condition of a registered society.
2. (2) Where the Registrar consults the Board under subsection (1), the Board shall within fourteen days respond to the Registrar in writing.
3. (3) Upon receipt of the Board's response in subsection (2), or where the Board does not respond to the Registrar within the time stipulated in subsection (2), the Registrar may proceed with the inquiry envisaged under subsection (1) as though the same were in consultation with the Board.
4. (4) On receipt of a resolution demanding an inquiry passed by not less than two-thirds of the members present at a general meeting of the society which has been duly advertised, the Registrar in consultation with the Board shall cause such an inquiry.
5. (5) During the period of inquiry referred to in subsections (1) and (2), the chief executive and other officers or employees may be suspended from duty by the Registrar as he or she may deem necessary to facilitate the smooth holding of the inquiry.
6. (6) Where the chief executive has been suspended in accordance with subsection (5), a caretaker manager shall be appointed by the Registrar in consultation with the Board.
7. (7) The caretaker manager shall remain in office until either the former chief executive is reinstated, or a new one is appointed; except that he or she shall not stay in that office for more than three months after the report of the committee of inquiry has been submitted.
8. (8) Where during the course of inquiry cause arises to dissolve the committee of the society, the Registrar, in consultation with the Board, shall dissolve the committee and convene within thirty days a special general meeting to replace the committee.

1 further item remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Registrar may, if he or she thinks fit, on the application of a creditor or a registered society, direct any person authorised by him or her in writing in that behalf to inspect the books of the society if-
2. (a) the applicant satisfies the Registrar that the debt is a sum then due, and that he or she has demanded payment of the debt and has not received satisfaction within a reasonable time; and
3. (b) the applicant deposits with the Registrar such sum as security for the costs of the proposed inspection as the Registrar may require.
4. (2) The Registrar shall communicate the results of any inspection to the creditor.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. Where an inquiry is held under section 59 or an inspection is made under section 60, the Registrar may make an award apportioning the costs or such part of the costs as he or she may think fit between the society, the members or creditor demanding an inquiry or inspection and the officer or former officers of the society

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. An award under section 61 may be recovered in any court of competent jurisdiction in the same manner as a decree of that court

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A savings and credit cooperative society is a registered society for promoting and mobilising savings and extending credit and financial services to its members.
2. (2) The words "savings and credit cooperative or organisation" shall form part of the name of a society formed for the purpose described in subsection (1).
3. (3) All savings and credit cooperative societies shall be registered, developed, or deregistered under this Act, by the Registrar.
4. (4) A savings and credit cooperative society shall discharge any or all of the following functions-
5. (a) acquire, lease, hold, assign, pledge, mortgage, discount or dispose of property or assets;
6. (b) enter into contracts;
7. (c) institute and defend against lawsuits and other legal proceedings;
8. (d) mobilise deposits and borrow in an aggregate amount not exceeding a multiple of capital as prescribed in the regulations made under this Act;

7 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Every savings and credit cooperative society shall have a Board of Directors of not less than five directors.
2. (2) The Board of Directors shall be headed by a Chairperson who shall be a non-executive director.
3. (3) Notwithstanding anything to the contrary in any other written law, or any agreement, not more than fifty percent of the directors of the savings and credit cooperative society shall be employees of the savings and credit cooperative society or any of its subsidiaries or affiliates except in such cases where the Registrar is satisfied that all those directors who are employees have been deemed fit and proper to be directors of a savings and credit cooperative society by the home country regulator of the savings and credit cooperative society.
4. (4) No person who is not a fit and proper person in accordance with the fit and proper test specified in Schedule 4 to this Act shall become or remain a director of a savings and credit cooperative society, and for the purposes of this subsection, the Registrar shall vet all persons proposed as directors of a savings and credit cooperative society within six months and notify the savings and credit cooperative society accordingly.
5. (5) An appointment of a director of a savings and credit cooperative society shall not have legal effect for the purposes of this Act or any other law unless that person has complied with the requirements of subsection (4).
6. (6) Subject to subsection (1), no person who on the 20th day of March, 2020 is a director of a savings and credit cooperative society shall, on the expiry of his or her current term of office be eligible for re-appointment as a director unless or until he or she qualifies for appointment under subsection (4).
7. (7) A director of a savings and credit cooperative society shall not, after six months from the 20th day of March, 2020, remain a director unless or until he or she qualifies to be a director as required under subsection 4.
8. (8) A member of a Shari'ah Advisory Board in any savings and credit cooperative society shall not be appointed a director of a savings and credit cooperative society while he or she holds that position.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) No person shall become a director in a savings and credit cooperative society unless-
2. (a) he or she is above eighteen years of age;
3. (b) he or she has not been declared as suffering from mental illness by any court of law in Uganda or elsewhere;
4. (c) he or she is not an undischarged bankrupt;
5. (d) he or she is a natural person;
6. (e) the savings and credit cooperative society has served a written notice on the Registrar of its nomination of that person to become a director; and
7. (f) the Registrar has given a written approval of his or her compliance with the fit and proper test specified in Schedule 4 to this Act.
8. (2) The Registrar may, on receipt of the notice referred to in subsection (1), seek further information and documents from the applicant or from other sources.

5 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A director, officer or a member of a Shari'ah Advisory Board of a savings and credit cooperative society shall not take part in the discussion of or taking a decision on any matter in which that person or any of his or her related interest has an interest.
2. (2) In any meeting where subsection (1) applies, every officer or director referred to in subsection (1) shall inform the meeting of his or her interest, or that of any of the parties mentioned in subsection (1), and to the extent that the discussion or decision concerns any matter in which he or she has an interest, shall exclude himself or herself from further attendance at that meeting.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Board of Directors of a savings and credit cooperative society shall be responsible for-
2. (a) good corporate governance and business performance of the savings and credit cooperative society;
3. (b) ensuring that the Board is in full control of the affairs and business operations of the savings and credit cooperative society;
4. (c) ensuring that the business of the savings and credit cooperative society is carried on in compliance with all applicable laws and regulations, and in the case of a savings and credit cooperative society that conflicts Islamic savings and credit cooperative society business, the business of the savings and credit cooperative society complies with the Shari'ah, and is conducive to safe and sound cooperative practices; and
5. (d) ensuring and reporting to the members at the annual general meeting of the savings and credit cooperative society, that the internal controls and systems, and management information systems of the savings and credit cooperative society-
6. (i) are designed to provide reasonable assurance as to the integrity and reliability of the financial statements of the savings and credit cooperative society and to adequately safeguard, verify and maintain accountability of its assets;
7. (ii) are based on established and written policies and procedures, and are implemented by trained and skilled officers with an appropriate segregation of duties; and
8. (iii) are continuously monitored, reviewed and updated by the Board of Directors to ensure that no material breakdown occurs in the functioning of such controls, procedures and systems.

5 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) A director shall in relation to the savings and credit cooperative society in which he or she serves, stand in a fiduciary relationship and shall in addition and without derogation owe the savings and credit cooperative society and its members the following duties-
2. (a) a duty to act honestly and in good faith;
3. (b) a duty to act in the best interest and for the benefit of the savings and credit cooperative society;
4. (c) a duty to act independently, free from undue influence of any other person; and
5. (d) a duty to access necessary information to enable him or her to discharge his or her responsibilities.
6. (2) The Board as an organ and each director individually shall immediately report in writing to the Registrar if they have reason to believe that the savings and credit cooperative society-
7. (a) may not be able to properly conduct its business as a going concern;
8. (b) appears to be or is likely in the near future to be unable to meet all, or any of its obligations;

6 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Registrar may, for sufficient cause-
2. (a) remove a director of a savings and credit cooperative society;
3. (b) remove or suspend the whole Board of a savings and credit cooperative society; or
4. (c) exclude any member of the Board from qualifying to serve on a Board of any savings and credit cooperative society in Uganda for a period of not less than ten years.
5. (2) For the purposes of subsection (1), "sufficient cause" means-
6. (a) in relation to a director or directors, ceasing to comply with the fit and proper test specified in Schedule 4 to this Act; and
7. (b) in relation to the Board-
8. (i) failure, omission or neglect of their responsibilities in section 67;

7 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Registrar may, by notice, order any savings and credit cooperative society to provide the Registrar within a period specified in the notice, a copy of the Board minutes and resolutions duly certified as a true record by the Secretary and Chairperson of the Board.
2. (2) Notwithstanding anything in this Act and the byelaws of a savings and credit cooperative society, the Registrar may, in the interest of the savings and credit cooperative society or the safety of depositors-
3. (a) order the Board of a savings and credit cooperative society to meet within three days and at such place in Uganda as the order shall specify;
4. (b) order the Board of directors of a savings and credit cooperative society to consider on the agenda of the convened meeting such items relating to the savings and credit cooperative society as the Registrar may deem necessary for purposes of the safety of the savings and credit cooperative society and its depositors; or
5. (c) appoint an observer to any Board meeting of a savings and credit cooperative society.
6. (3) Where a meeting of the Board is convened under subsection (2) (a), quorum for the meeting shall be three directors or one-third of the total directors present, whichever is greater, and decisions shall be taken by a simple majority.
7. (4) Any decision taken under subsection (3) shall be binding on the savings and credit cooperative society.
8. (5) Where no director turns up, the Registrar shall take appropriate action as the Registrar deems fit.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Board shall constitute from among its members, a committee on audit, consisting of not less than two persons to perform such functions as the Board shall specify.
2. (2) Notwithstanding subsection (1), an executive director shall be disqualified from serving on the committee on audit.
3. (3) The committee on audit shall be headed by a chairperson who shall be appointed by the Board.
4. (4) The chairperson shall have such functions as are prescribed by the Board.
5. (5) The committee on audit shall meet once in every quarter of the financial year of the savings and credit cooperative society.
6. (6) The following shall be required to attend all meetings of the committee on audit-
7. (a) the Board members of the committee on audit;
8. (b) the officer responsible for internal audit in the savings and credit cooperative society; and

9 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) The Board shall constitute an Asset and Liability Management Committee consisting of not less than two persons to perform such functions as the Board shall specify in relation to establishing the broad guidelines on the savings and credit cooperative society's tolerance for risk and expectations from investment.
2. (2) Subject to subsection (1), the guidelines shall include the following-
3. (a) limits on loan to deposit ratio;
4. (b) limits on loan to capital ratio;
5. (c) limits on exposure to single or related customers:
6. (d) flexible limits on the percentage reliance on a particular deposit liability category;
7. (e) maximum dependence on inter-bank and other volatile funding instruments;
8. (f) limits on maximum and minimum maturities for newly acquired categories of assets and liabilities;

7 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) Every savings and credit cooperative society shall appoint an internal auditor suitably qualified and experienced in banking who shall report to the committee on audit of the Board.
2. (2) The duties of the internal auditor shall be-
3. (a) to evaluate the reliability of the information produced by accounting and computer systems;
4. (b) to provide an independent appraisal function;
5. (c) to evaluate the effectiveness, efficiency and economy of operations;
6. (d) to evaluate compliance with laws, policies and operating instructions;
7. (e) to provide investigative services to line management; and
8. (f) to certify returns submitted to the Registrar by the savings and credit cooperative society.

1. (1) Subject to subsection (5), every savings and credit cooperative society shall nominate for appointment annually, from a pre-qualified list to be published by the Registrar a firm of qualified auditors whose duty shall be to perform an audit of the financial statements of the savings and credit cooperative society and to give an opinion in accordance with this Act and International Standards on Auditing as adopted in Uganda on the following-
2. (a) annual balance sheet, profit and loss account, cash flow statement and other financial statements required to be submitted by the savings and credit cooperative society to the Registrar under this Act;
3. (b) compliance of the savings and credit cooperative society with the requirements of this Act; and
4. (c) compliance of the savings and credit cooperative society with the requirements of its byelaws.
5. (2) A savings and credit cooperative society shall, within thirty days alter the nomination for appointment of an external auditor, apply in writing to the Registrar for the approval of the appointment.
6. (3) On receipt of an application under subsection (2), the Registrar may in writing-
7. (a) approve the appointment;
8. (b) approve the appointment subject to such conditions as shall be specified in the approval; or

12 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. No person shall hold office as an external auditor of a savings and credit cooperative society unless his or her appointment has been approved by the Registrar under section

1. (b) that person, either directly or indirectly has a material interest in the savings and credit cooperative society or its affiliates;
2. (c) in the opinion of the Registrar, circumstances exist which may impair the independence or impartiality of that person in the performance of his or her duties as an external auditor of the savings and credit cooperative society;
3. (d) that person is an officer or servant of the savings and credit cooperative society;
4. (e) that person is a partner, or associate of a director, or an officer or substantial shareholder of the savings and credit cooperative society; or
5. (f) that person by himself or herself, together with his or her partners or employees, performs the duties of secretary or bookkeeper for the savings and credit cooperative society.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (1) No savings and credit cooperative society shall, before the expiry of the term of the current external auditor, remove or change its auditor except with the prior written approval of the Registrar.
2. (2) Any person who is an external auditor of a savings and credit cooperative society shall give adequate written notice to the savings and credit cooperative society and the Registrar of-
3. (a) his or her decision to resign from office and the reasons for the resignation; and
4. (b) his or her decision not to seek to be re-appointed and the reasons for doing so.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. Each firm of external auditors approved for appointment by the Registrar under this Act shall have in force, before the commencement of the audit, a valid professional indemnity insurance cover for negligence in the performance of its duties under this Act

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. No audit firm or individual auditor shall serve the same savings and credit cooperative society as external auditors for a continuous period exceeding four years

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

1. (a) a duty to warn the Board of a savings and credit cooperative society of-
2. (i) the savings and credit cooperative society's ability or inability to meet the capital requirements;
3. (ii) the savings and credit cooperative society's ability or inability to meet the reserve and liquidity requirements;
4. (iii) the savings and credit cooperative society's credit, foreign exchange and operations risks; and
5. (iv) any other matter which the auditor becomes aware of in the performance of his or her functions as an auditor which may-
6. (A) prejudice the ability of the savings and credit cooperative society to continue conducting business as a going concern;
7. (B) be detrimental to the interests of the depositors; or
8. (C) violate the principles of sound financial management or the maintenance of adequate internal controls and systems by the savings and credit cooperative society;

5 further items remain in the statutory text above.

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.