Co-operative Banks Act, 2007 (Act No. 40 of 2007)Chapter V : Amalgamation, Division, Conversion, Transfer, Judicial Management and Winding-Up of Co-operative Banks27. Prohibited transactions |
| (1) | A co-operative bank may not convert into any other form of corporate or unincorporated body. |
| (2) | A co-operative bank may only amalgamate with another co-operative bank and transfer assets, rights, liabilities and obligations to another co-operative bank in accordance with section 57 of the Co-operatives Act. |