Co-operative Societies (Exemption under Section 97) (Amendment) Order 2016

Status:

Published in Subsidiary Legislation Supplement
on 03 May 2016

No. S 202

Co-operative Societies Act

(CHAPTER 62)

Co-operative Societies
(Exemption under Section 97) (Amendment)
Order 2016

In exercise of the powers conferred by section 97 of the Co‑operative Societies Act, the Minister for Culture, Community and Youth makes the following Order:

Citation and commencement

1. This Order is the Co-operative Societies (Exemption under Section 97) (Amendment) Order 2016 and come into operation on 4 May 2016.

Amendment of paragraph 3

2. Paragraph 3 of the Co-operative Societies (Exemption under Section 97) (No. 3) Order 2011 (G.N. No. S 384/2011) is amended by deleting sub‑paragraph (2) and substituting the following sub‑paragraph:

“(2) Mercatus Co‑operative Limited must not provide any financial service other than the granting of loans to and the provision of security or guarantee in respect of the obligations of —

(a)	any of its associated companies, joint venture companies or subsidiary companies; or
(b)	any co‑operative society in which Mercatus Co‑operative Limited holds at least 20% of the total number of shares.”.

Made on 29 April 2016.

YEOH CHEE YAN

Permanent Secretary,
Ministry of Culture,
Community and Youth,
Singapore.

[MCCY 076-013-003 Vol. 7; AG/LEGIS/SL/62/2015/2 Vol. 1]

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