Co-operative Banks Act, 2007 (Act No. 40 of 2007)

Regulations

Regulations in terms of Section 86

Part 2 : Constitution of co-operative bank [Section 13]
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2.The constitution of a co-operative bank must provide that a director of a co-operative bank who is in arrears for more than three months with any amount or type of debt payable to the co-operative bank, is disqualified from continuing as a director and must vacate his or her office in accordance with the procedures provided for in the constitution.