Co-operatives Act, 2005 (Act No. 14 of 2005)Chapter 1 : Definitions, Purpose and Application of Act5A. Application of Co-operative Banks Act |
| (a) | The Co-operative Banks Act, 2007, applies to any co-operative registered under that Act or any financial co-operative that takes deposits and— |
| (i) | has 200 or more members; |
| (ii) | and holds deposits of members to the value of one million Rand or more |
| (b) | In the event of an inconsistency between any provision of this Act and any provision of the Co-operative Banks Act, 2007, the provision of that Act prevails. |
[Section 5A inserted by section 90 (item 1 of Schedule) of the Co-operative Banks Act, 2007 (Act No. 40 of 2007) Notice No. 217, GG 30802, dated 22 February 2008]