| (1) |
The Minister must prescribe the monetary threshold for the annual revenue or projected annual revenue for each of the following categories of primary co-operatives: |
| (a) |
A category A primary co-operative which is a small primary co-operative; |
| (b) |
a category B primary co-operative which is a small to medium primary co-operative; and |
| (c) |
a category C primary co-operative which is a medium to large co-operative. |
| (2) |
Category A, B and C primary co-operatives are primary co-operatives that are excluded from legislation applicable to deposit-taking financial co-operatives and co-operative banks. |
| (3) |
For purposes of this section— |
| (a) |
"projected annual revenue" means a reasonable estimate of the gross value of the economic benefits that are likely to be received by a newly registered co-operative as a result of its ordinary activities during its first financial year; and |
| (b) |
"annual revenue" means the gross value of the economic benefits actually received by a co-operative as a result of its ordinary activities in a financial year. |
[Section 15A inserted by section 14 of Notice No. 558, GG 36729, dated 5 August 2013]
Older Persons Act, 2006
