66.—(1) The capital of a society may be raised by all or any of the following means:
(a)
entrance fees which are not refundable except in cases where an application for membership has been rejected;
(b)
ordinary shares subscribed and paid up by members;
(c)
permanent shares subscribed and paid up by institutional members;
(d)
in the case of credit societies —
(i)
subscription capital; and
(ii)
other deposits from members which are withdrawable subject to conditions laid down in the by‑laws;
(e)
deposits or loans from non-members subject to such restrictions as are laid down in this Act and in the by‑laws;
(f)
donations made by third persons except that no donations from any foreign source, whether offered directly or otherwise, may be received by a society without the Registrar’s prior approval.
[3/2018]
(2) The issue of bonds or debentures by a society is subject to the Registrar’s approval.