Western Australian Consolidated Acts Western Australian Consolidated Acts (1) A society which
may be registered under this Act as a co-operative and provident society is a
society for carrying on any lawful industries, businesses, or trades specified
in or authorised by its rules, whether wholesale or retail, and including
dealings of any description with land; but no member shall have or claim any
interest in shares of the society exceeding $50 000 or such other amount
as prescribed.
(2) No registered
society shall carry on the business of banking.
[Section 3 amended by No. 48 of 1947
s. 3; No. 43 of 1969 s. 3; No. 61 of 1973 s. 2;
No. 60 of 1986 s. 4.]