HC Deb 04 July 1975 vol 894 c588W
Mr. Watkinson

asked the Minister of Agriculture, Fisheries and Food what progress has been made in reviewing the statutory limits on shareholdings in agricultural and horticultural co-operatives which are registered as industrial and provident societies.

Mr. Bishop

The Industrial and Provident Societies Act 1975 which received the Royal Assent yesterday raises to £5,000 the statutory limit on the shareholding an individual member may have in a co-operative society, and allows further changes in the statutory maximum to be made by order. To enable societies which have the existing statutory limit on shareholding of £1,000 written into their rules to take immediate advantage of the increase the Act permits them to change those rules by a committee resolution. The Central Council for Agricultural and Horticultural Co-operation and other interested organisations have pressed for an increase in this statutory limit for some time. I hope agricultural and horticultural co-operatives will use it to full advantage.