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AUPE MULTI-PURPOSE CO-OPERATIVE
SOCIETY LTD |
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2. |
INTERPRETATION |
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Interpretation |
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2.1 |
In this by-law, unless the context otherwise requires: |
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(a) |
"Act" means the Co-operative Societies Act (Cap 62) or any amendment thereto for the time being in force in Singapore; |
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(b) |
"Rules" means the Co-operative Societies Rules or any rule made under the Act for the time being in force in Singapore; |
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(c) |
"By-laws" means the By-laws of the Society: |
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(d) |
"Society" means the AUPE Multi-purpose Cooperative Society Limited; |
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(e) |
"Registrar" means the Registrar of Cooperative Societies and the Assistant Registrars of Co-operative Societies appointed under section 3 of the Act, and includes a person exercising such powers of the Registrar as may have been conferred upon him under that section; |
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(f) |
"Board" or "Board of Directors" means the governing body of the Society which is responsible for the management of the affairs of the Society; |
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(g) |
"Officer" includes a Chairman, Vice - Chairman, Secretary, Assistant Secretary, Treasurer, Assistant Treasurer, member of Board of Directors, employee, internal auditor or other person empowered under the Act, the Rules or the By-laws to give directives in regard to the business of the Society or to supervise such business; |
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(h) |
"Member" means any person duly admitted to the membership of the Society in accordance with the By-laws; |
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(i) |
"Employee" means a person who is on the full-time paid staff of the Society; |
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(j) |
"Central Co-operative Fund" means the fund established under section 71 of the Act |
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(k) |
"Allowance" means the remuneration paid to an officer of the Society in consideration of his voluntary services rendered to the Society on a regular basis; |
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(l) |
"Honorarium" means a portion of the net surplus of the Society distributed among some or all of the members of the Board of Directors in consideration of their services which would not otherwise be remunerated; |
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(m) |
"Surplus" means the economic results of the Society less all items of expenditure including provisions for depreciation and bad debts; |
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(n) |
"Net surplus" means the remaining portion of the surplus after provisions have been made for the Reserve Fund and the Central Cooperative Fund; |
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(o) |
"Dividend" means a portion of the net surplus of the Society distributed among the members in proportion to the paid-up share capital and bonus shares held by them in the Society; |
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(p) |
"Patronage refund" means a portion of the net surplus of the Society distributed among the members in portion to the volume of business done by them with the Society from which the surplus of the Society was derived; |
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(q) |
Words imported the masculine gender shall include the feminine gender and words importing the singular shall include the plural. |
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