9.—(1) The Registrar may register a proposed society and its by-laws if he is satisfied that —
(a)
the proposed society has complied with the provisions of this Act and the Rules;
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(b)
the proposed by-laws of the proposed society are not contrary to this Act and the Rules; and
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(c)
the proposed by-laws of the proposed society are sufficient to provide for its proper administration and management.
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(1A) For the purposes of subsection (1), the Registrar may accept a declaration made by the applicants for registration of the proposed society as to the matters specified in subsection (1)(a), (b) and (c) as sufficient evidence of those matters.
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(1B) Notwithstanding subsection (1), the Registrar may refuse to register a proposed society which proposes to provide any financial service, and its by-laws, if he is not satisfied that —
(a)
the proposed society is to be established in the interests of its members;
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(b)
the primary object of the proposed society is to provide the financial service;
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(c)
the proposed by‑laws of the proposed society are consistent with the criterion in section 39(3A) for membership in a credit society;
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(d)
there is available sufficient capital for the commencement and maintenance of the operations of the proposed society;
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(e)
the proposed society is able to meet such minimum financial or prudential requirements or such other requirements as may be prescribed, either generally or specifically; or
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(f)
there are available officers capable of directing and managing the affairs of the proposed society and keeping the records and accounts of the proposed society, having regard to the reputation, character, financial integrity and reliability of the proposed officers.
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(1C) The Registrar may —
(a)
register any proposed society and its by-laws subject to such terms and conditions of registration as he thinks fit to impose; and
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(b)
where the proposed society is to provide any financial service, register the proposed society as a credit society to provide the financial service.
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(2) Despite anything in this section, the Registrar must not register a proposed society if the Registrar is satisfied that —
(a)
the proposed society is likely to be used for an unlawful purpose or for any purpose prejudicial to public peace, welfare or good order in Singapore; or
(b)
it would be contrary to the national security or interest for the proposed society to be registered.
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(2A) Where the Registrar refuses to register a proposed society, the Registrar must inform the applicants of this fact.
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(3) An appeal against the refusal of the Registrar to register a proposed society may be made to the Minister within 2 months after the date of the refusal, and the decision of the Minister shall be final.