BRITISH GUIANA Co-operative Credit Banks Ordinance - Ordinance No.28 of 1933 - Provisions for establishment and management

Aug 24, 2026

An ordinance enacted in British Guiana provides for the constitution and management of co-operative credit banks. It defines key terms such as bank, board, committee, member, registrar, regulations, rules, and secretary, and sets out a preliminary framework for appointing a Board to supervise banks. The text establishes the Board’s composition, voting powers, quorum requirements, vacancy and revocation of office, and authority to appoint replacement members. It also governs registration, including eligibility requirements, application procedures, refusal and appeal, evidentiary effect of registration, conditions, and incorporation consequences.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages19

Reading Time48 min

AccessFree to download

Preliminary

Constitution of the Board

Appointment and duties of registrar

Part I: Registration and Cancellation

Banks eligible for registration

Registration provisions and requirements

Acknowledgment of registration and evidence

Conditions and effect of registration

Cancellation of registration

d.. BRITISH GUIANA. ORDINANCE NO.28 OF 1933. AN ORDINANCE to make better provision for the eonstitution and A.D.1933.management of Co-operative Credit Banks. RE it enacted by the Governor of British Guiana,with the adviceond ooneont of thaIocialatie Couneil haroof 9 follo a·and consent of the Legislative Council thereof,as follow8:一 1.This Ordinance may be eited as the Cn-operative Credit Short Title.Banks Ordinance,1933. 2.In this Ordinance the following expres8ions shall,unless the Definitionu.context otherwise requires,have the meauinge in this sectionas8igned to them:一 “Bank”means a co-operative eredit bank which has beenregistered under this Ordinance; 2 . [A.D.1933. “Board”means the board appointed by the Governor undersection three of this Ordinance; “Committee”means the committee of management of abank as conetituted under the regulations; “Member”or“member of a bank”means a person who isthe holder of shares in a bank in pursuance of the regula-tions; "Registrar"means tbe person appointed to be registrar ofbanks under this Ordinance; “Regulations”means the regulations contained in schedule B.,ard sball include any amendment thereof or regulationssubstituted therefor; “Rules”means the rules for the government of banks con-tained in schedule B or in any regulations made in pur-suance of this Ordinance; “Secretary”means a secretary of a bank as defined in theregulations. PRELIMINARY. 3.—(1)The Governor shall appoint for the general superinten-dence of all banks a Board to be styled"The Co-operative CreditBanks'Board.”The Board shall consist of five members one ofwhom shall be the Director of Agriculture. (2)The Director of Agrieulture sball be the Chairman of theBoard and shall preside at its meetings;in the absenee of thechairman from a meeting the members present may elect one oftheir number to be chairman of the meeting. (3)The chairman of a meeting shall have an original anda casting vote. (4)Three menbers present at a meeting shall form a quorum. (5)The Governor may at any time revoke the appointment ofany member of the Board. (6)A member of the Board shall vacate his office— (a)if he resigns in writing addressed to the registrar;or (b)if he departs from the Colony without leave of theGovernor,or remains out of the Colony after theexpiration of his leave;or (c)if ha fails without reasonable excuse(the sufficiencywhereof shall be determined by the Governor)to attendthree consecutive meetings of the Board. (7)The Governor may at any time appoint some person amember of the Board— (a)to take the place of an appointed member who shallvacate his office by death or otherwise;and Constitution of the Board. 8 (b)for the period of any leave granted to an appointedmember. 4.--(1)The Governor may appoint a registrar of banks and Registraras8istant registrars to assist him in the performance of his duties.aud assistantregistrars. (2)The registrar shall be the secretary of the Board.He shallbe subject to the direction of the Board and shall have the powersand perform the duties assigned to him. # PART I.REGISTRATION AND CANCELLATION. 5.A bank which may be registered under this Ordinance shall be Banks whicha bank established for making loans to its members for the develop-inay be reg·ment of their land or for some other industrial pursuit.istered. 6.With respect to the registration of banks the followingprovisions shall,subjoct to the regulations,have effect:— (1)A bank shall not be registered under this Ordinanceunless it consists of fifteen members at least; (2)For the purpose of registration an application to registersigned by fifteen members and the secretary,and a printedcopy of the rules shall be sent to the registrar; (3)A bank shall not be registered under a name identicalwith that under which any other existing bank is registersd,or so nearly resembling such name as to be likely,or inany name likely,in the opinion of the registrar,to misl

FAQs

What is the purpose of the ordinance in British Guiana?

It makes better provision for the constitution and management of co-operative credit banks.

How is the Board for supervising co-operative credit banks constituted?

The Governor appoints a Board of five members, including the Director of Agriculture, who chairs meetings and presides; the chairman has an original and casting vote and three members form a quorum.

What requirements must a bank meet to be registered?

A bank must consist of at least fifteen members and submit an application signed by fifteen members and the secretary along with a printed copy of the rules to the registrar.

Aug 24, 2026

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