—(1) The qualifications for membership in a primary society shall be —
in the case of an individual person, that he —
shall have attained the age of 16 years and in the case of a school co-operative shall have attained the age of 12 years;
shall be a citizen of Singapore or resident in Singapore; and
meets such other requirements with regard to residence, employment, profession, etc., as prescribed by the by-laws,
except that no person shall be admitted to membership who is legally or mentally disabled or who is a bankrupt or against whom a conviction stands for an offence punishable with imprisonment; and
in the case of an institution, that it is registered as a society under this Act or is a trade union.
(2) Membership in a secondary society shall be restricted to registered co-operative societies and trade unions.
(3) Membership in an apex organisation shall be restricted to primary and secondary societies registered under this Act.
(3A) Notwithstanding subsections (1), (2) and (3), membership of individuals in a credit society shall be restricted to individuals who belong to a field of membership consisting of a pre-existing common bond of association or community of interest among the members thereof.
(3B) In determining whether the criterion for membership in a credit society prescribed in subsection (3A) is met, regard shall be had to —
whether the members have the same or a similar occupation or profession, are employed by a common employer, or are employed within the same business district or commercial area;
whether the members have common membership in a religious, social, co-operative, labour, educational or other association or organisation;
whether the members reside, work or worship within the same defined community, district or electoral division; and
such other considerations as the Registrar may determine to be relevant.
(3C) Subsection (3A) shall not apply to any person who, immediately before 20th October 2008, is a member of any society which provides any financial service and which continues to provide such financial service from that date as a credit society, whether by virtue of paragraph 1 of the Schedule to the Co-operative Societies (Amendment) Act 2008 (Act 23 of 2008) or otherwise.
(4) A member who may at any time be found to be disqualified for any of the reasons mentioned in this section shall cease to be a member of the society.