The Co-operative Banks Act, 2007, applies to any co-operative registered under that Act or any—
| (a) | primary co-operative that takes deposits and |
| (i) | has 200 or more members; and |
| (ii) | holds deposits of members to the value of one million rand or more; and |
| (b) | secondary or tertiary co-operative whose members consist of at least— |
| (i) | two or more co-operative banks; |
| (ii) | two or more financial co-operative that takes deposits; or |
[Item 5A, Part 3 of Schedule 1, inserted by section 75 of the Financial Services Laws General Amendment Act, 2008 (Act No. 22 of 2008) Notice No. 1071, GG 31471, dated 30 September 2008]
