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

Chapter I : Definitions, Purpose and Application of Act

Purchase

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

(a)	A primary savings co-operative bank;

(b)	a primary savings and loans co-operative bank;

(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)]