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Eligibility for membership of committee of management, or to be key employee

Co-operative Societies Act 1979

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—(1) An individual is not eligible for membership of the committee of management of a society, to be a key employee of a credit society, or to remain a member of the committee of management of a society or a key employee of a credit society —(a)if the individual is below —(i)12 years of age, in the case of a school co‑operative society; or(ii)18 years of age, in any other case;(b)except with the Registrar’s written approval, if the individual is not —(i)a citizen of Singapore; or(ii)subject to subsection (2), resident in Singapore;(c)if the individual is an undischarged bankrupt (whether he or she was adjudicated bankrupt by a Singapore court or a foreign court having jurisdiction in bankruptcy);(d)if the individual has been convicted of an offence under this Act;(e)if the individual has been dismissed as an employee of a society; or(f)except with the Registrar’s written approval, if the individual has previously been removed by the Registrar from the committee of management of any society, or suspended by the Registrar, under section 94(1) or 94A(1).(2) For the purposes of subsection (1)(b)(ii), the Registrar may, by written directions, stipulate the number or proportion of individuals resident in Singapore who are eligible for membership of the committee of management of any society or class of societies, as the case may be.(3) Where an individual has been convicted, whether in Singapore or elsewhere, of any offence (not being an offence under this Act) involving fraud or dishonesty, the individual is not eligible to be, or remain, a member of the committee of management of a non‑credit society for the following periods except with the Registrar’s written approval:(a)where the individual has been sentenced to imprisonment in respect of the offence, for a period starting on the date of the individual’s conviction until 5 years after his or her release from prison; or(b)where the individual has not been sentenced to imprisonment in respect of the offence, for a period of 5 years starting on the date of the individual’s conviction or such shorter period with the leave of the General Division of the High Court.(4) An individual is not eligible to be, or remain, a key employee of a credit society or a member of the committee of management of a credit society, except with the Registrar’s written approval, where the individual has been convicted, whether in Singapore or elsewhere, of any offence (not being an offence under this Act) involving fraud or dishonesty.(5) Where a society is required by the Rules to appoint a chief executive officer, a chief operating officer, a chief financial officer or a chief investment officer —(a)except with the Registrar’s written approval, an individual is not eligible to be, or to remain as, the chief executive officer, chief operating officer, chief financial officer or chief investment officer (as the case may be) for the society, if the individual does not satisfy the requirements under section 59B for that office; and(b)the society does not incur any liability for breach of contract by reason only of terminating the contract of service between the society and the individual on the ground that the individual is not eligible to be, or to remain as, the chief executive officer, chief operating officer, chief financial officer or chief investment officer (as the case may be) for the society.(6) Despite subsection (5), for a period of 3 years starting on 1 November 2019, that subsection does not apply —(a)to a chief executive officer, chief operating officer, chief financial officer or chief investment officer who —(i)is appointed before 1 November 2019 by a society; and(ii)is holding that office immediately before 1 November 2019; or(b)to a society the chief executive officer, chief operating officer, chief financial officer or chief investment officer of which —(i)is appointed before 1 November 2019 by the society; and(ii)is holding that office immediately before 1 November 2019.(7) Except with the Registrar’s written approval, an individual is not eligible to be re‑elected or co‑opted as a member of the committee of management of a credit society, if the individual fails to complete such training, or comply with such other requirements, as may be specified in the Rules within such time as may be specified in the Rules.

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