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

Chapter V : Amalgamation, Division, Conversion, Transfer, Judicial Management and Winding-Up of Co-operative Banks

28. Conversion of primary savings co-operative bank

 

 

(2) A primary savings co-operative bank that wishes to convert to a primary savings and loans co-operative bank must—
(a) apply to the Authority to convert to such a primary savings and loans co-operative bank in accordance with this Act; and
(b) request the Authority to cancel its registration as a primary savings co-operative bank and to record its conversion.