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"co-operative bank"

means a co-operative or a co-operative financial institution registered as a co-operative bank in terms of this Act whose members—

(a) are employed by a common employer or who are employed within the same business district; or
(b) have common membership in an association or organisation, including a religious, social, co-operative, labour or educational group; or
(c) reside within the same defined community or geographical area;

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