Section 63: Provisions concerning sale and withdrawal of shares

1) A Cooperative Organisation may sell shares to its members.

2) Notwithstanding anything contained in sub-Section (1), no Cooperative Organisation shall sell the shares that are more than twenty percent of its total share capital to a single member.

Provided that this restriction shall not be applicable to an organisation or body under the full or partial ownership of the Government of Nepal.

3) Notwithstanding anything contained in sub-Section (1), a Cooperative Organisation may sell shares to an organisation or agency under the full or partial ownership or control of the Government of Nepal, in addition to its share members.

4) The face value per share of a Cooperative Organisation shall be one hundred rupees.

5) The share capital of a Cooperative Organisation shall be as stated in the Byelaws.

6) No Cooperative Organisation shall be allowed to sell or purchase shares in the open market.

7) Share of a member, which is the principal capital of a Cooperative Organisation, shall not be sold by auction for any debt or liability other than the debt or liability of the same Cooperative Bank.