Co-operative Societies Act
2. Interpretation
2. Interpretation
In this Act, except where the context otherwise requires—"agricultural produce" means any produce or article produced or obtained by the work or industry of members of a co-operative society or marketed by a cooperative society, whether the produce be of agriculture, animal husbandry, forestry, fisheries, handicrafts or otherwise;"apex society" means a society formed at the national level by the co-operative movement in Kenya and registered under this Act to promote co-operative development and represent the interests of co-operative societies locally and internationally;"bonus" in relation to a member of a co-operative society, means that member's share of the surplus of the society which is divided amongst its members, calculated by reference to the proportion which that member's volume of business with the society bears to the total volume of business done by the society;"by-laws" means the by-laws made by a society and registered under this Act and includes any registered amendment of such by-laws;"Cabinet Secretary" means the Cabinet Secretary for the time being responsible for co-operative development;"capital" means the permanent members equity in the form of common stock and includes all disclosed reserves, retained earnings, grants or donations;"Commissioner" means the Commissioner for Co-operative Development appointed under section 3 and includes any person on whom any of the powers of the Commissioner have been conferred in accordance with this Act;"Committee" means the governing body of a co-operative society to whom the management of its affairs is entrusted, and includes a board of directors;“contributor” means a person liable to contribute to the assets of a co-operative society in the event of its being wound up and for the purposes of any proceedings for determining and before the final determination of the persons who are to be deemed contributors, includes any person alleged to be a contributor;"co-operative society" means a society registered under section 4;"co-operative union" means a co-operative society whose membership is restricted to primary societies;"date of dissolution" means the date on which the Commissioner's order cancelling the registration of a co-operative society takes effect;"deposit" means a sum of money paid on terms under which it shall be repaid, with or without interest or premium, and either on demand or at a time or in circumstances agreed by or on behalf of the person making the society to receive it at the risk of the society receiving it;"dividend" in relation to a member of a co-operative society, means that member's share of the surplus of the society which is divided amongst its members, calculated by reference to the proportion which that member's share capital bears to the total share capital of the society;"liquidator" means a liquidator appointed under section 65;"limited liability" means limited by shares or limited by guarantee, according to the nature of the liability prescribed by the by-laws of the co-operative society;"member" includes a person or a co-operative society joining in the application for the registration of a society, and a person or co-operative society admitted to membership after registration in accordance with the by-laws;"officer" includes a chairman, vice- chairman, secretary, treasurer, committee member, employee or any other person empowered under any rules made under this Act, or by-laws of a co-operative society, to give directions in regard to the business of the society;"personal representative" means any person who, under law or custom, is responsible for administering the estate of a deceased person;"primary society" means a co-operative society whose membership is restricted to individual persons;"share" means the amount represented by a member's portion in the equity of a society as a co-owner;"special general meeting" means a general meeting, other than an ordinary general meeting, of which at least fifteen clear days written notice of the resolution and of the date, time and place of the meeting has been given to each member;"special resolution" means a resolution passed by two thirds of the members present and voting at a general meeting of a society;“supervisory committee” means an oversight committee elected at a general meeting;"Tribunal" means the Co-operative Tribunal established under section 77;"winding up" means all proceedings subsequent to the dissolution of a co-operative society.[Act No. 2 of 2004, s. 2, Act No. 19 of 2015, s. 97.]Case law referring to this provision
Source: Kenya Law