Hong Kong Regulations

CO-OPERATIVE SOCIETIES RULES - RULE 66

Reserve fund

(1) The reserve fund of a registered society, created in pursuance of
subsection (1) of section 34 of the Ordinance, may, with the sanction of the
Registrar-

   (a)  be utilized in the business of the registered society; or

   (b)  be applied to meet occasional deficiencies incurred by the registered
        society.

(2) In sanctioning the utilization or application of the reserve fund under
paragraph (1) of this rule, the Registrar may impose such terms and conditions
as he may deem fit.