Co-operative Banks Act, 2007 (Act No. 40 of 2007)Chapter VIII : Administration of Act51. Records and register of co-operative banks |
| (1) |
| (a) | The Authority must keep records of the following documents for a period of at least 10 years: |
| (i) | Alterations to the constitution or name of a co-operative bank; |
| (ii) | constitutions of co-operative banks; |
| (iii) | copies of all documents submitted to him or her by a co-operative bank or its auditor; and |
| (iv) | financial statements of co-operative banks. |
| (b) | Despite paragraph (a), the Authority is not required to keep documents relating to a co-operative bank whose registration was cancelled for a period longer than five years from the date of the cancellation. |
| (2) | The Authority must keep a register of co-operative banks in the manner prescribed by the Minister, in which particulars of all registered co-operative banks must be entered. |
| (3) | The register of co-operative banks or any extract therefrom or copy thereof signed by the Authority is, on the face of it, proof of the particulars contained in the register. |