Co-operatives Act, 2005 (Act No. 14 of 2005)

Schedules

Schedule 1 : Special Provisions Relating to Certain Kinds of Co-operatives

Part 5 : Social Co-operatives

3. Surplus
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A social co-operative may—

(a)set aside 100 per cent of its surplus to an indivisible reserve; and
(b)capitalise all donations and grants, in order to enjoy the benefits of public benefit organisations.

 

[Item 3 of Part 5 of Schedule 1 inserted by section 75 of Notice No. 558, GG 36729, dated 5 August 2013]