law: Co-Operative Societies Act 2008 
  44.
  
  Fixing record date
  1.      Subject to subsection
  
  (2), for the purpose of determining members-
  a.     
  
    entitled
  
  to receive payment of a bonus or dividend;
  b.    
  
    entitled
  
  to participate in a distribution on liquidation; or
  c.     
  
    for
  
  any purpose in addition to that described in paragraph (a ) or (b) ,
  
  except the right to receive notice of or to vote at a general meeting, the
  
  Board may fix in advance a date as the record date for the determination of
  
  members.
  1.     
  2.     The record date
  
  mentioned in subsection (1) shall not be more than 50 days prior to the
  
  particular action to be taken.
  3.      Subject to subsection
  
  (4), for the purpose of determining members entitled to receive notice of a
  
  general meeting, the Board may fix in advance a date as the record date for the
  
  determination of members.
  4.      The record date
  
  mentioned in subsection (3) shall not be more than fifty days nor less than
  
  eleven days prior to the date on which the meeting is to be held.
  5.      Where the Board does
  
  not fix a record date-
  a.     
  
    the
  
  record date for the determination of members entitled to receive notice of a
  
  general meeting is-
                       
  
   i.        
  
    the
  
  close of business on the day immediately preceding the day on which the notice
  
  is given; or
                      
  
   ii.        
  
    if
  
  no notice is given, the day on which the meeting is held; and
  b.    
  
    the
  
  record date for the determination of members for any purpose other than that
  
  described in paragraph (a) is deemed to be at the close of business on
  
  the day on which the Board passes a resolution relating to that purpose.