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

Chapter VIIA : Co-Operative Financial Institutions

40C. Registration of co-operative financial institution

 

(1) The Authority may grant an application for registration on payment of the fee, prescribed by the Authority, if the Authority is satisfied that—
(a) the application has been made in accordance with this Act; and
(b) the co-operative financial institution complies with the requirements for registration referred to in section 40B.

 

(2) The Authority must, on registration, issue a certificate of registration to the co-operative financial institution and publish a notice of the registration in the Register.

 

[Section 40C inserted by section 290, item 7 in Schedule 4, of Act No. 9 of 2017 - effective 1 October 2018 (paragraph (h) of Notice 169 of 2018)]