Draft — not yet finally notified. Once officially notified, your society must formally adopt these bye-laws via a resolution passed in its General Body Meeting (GBM) before they replace your existing 2014 bye-laws. This draft has been shared by the Co-operative Department for public consultation — you can submit suggestions via email at coophsgmodelbyelaws@gmail.com before the deadline of 27th August 2026.
Prohibition against being interested in the Society
No officer of the Society shall have any interest, directly or indirectly, otherwise than as such officer—
(a) in any contract entered into with the Society;
(b) in any property sold or purchased by the Society;
(c) in any other transaction of the Society.
Provided that, nothing contained herein shall apply to any investment made in, or loan taken from, the Society by any paid employee of the Society for the purpose of providing residential accommodation, in accordance with the provisions of the Act, the Rules and these bye-laws.
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