- Subject to the provisions of this Act, a society which has as its object the promotion of the economic interests or general welfare of its members in accordance with co-operative principles, or a society established with the object of facilitating the operations of such a society maybe registered under this Act with limited or unlimited liability:

Provided that the liability of-

(i) a society of which a registered society is a member; and

(ii) an agricultural service co-operative society registered after the commencement of this Act, shall be limited.