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

Chapter I : Definitions, Purpose and Application of Act

5. Types of co-operative banks

 

This Act provides for the registration of the following types of co-operative banks:

(c) a secondary co-operative bank whose members consist of at least—
(i) two or more co-operative banks;
(ii) two or more co-operative financial institutions; or
(iii) one co-operative bank and one co-operative financial institution;
(d) a tertiary co-operative bank whose members consist of two or more secondary co-operative banks.

 

[Section 5 substituted by section 290, item 6 in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]