law: Co-Operative Societies Act 2008 
  98.
  
  Restriction on transfer of shares
  1.      Subject to this
  
  section, the transfer of the shares or interest of a member or deceased member
  
  in the capital of a society shall be subject to such conditions as may be
  
  prescribed by or under this Act.
  2.      No shares or interest
  
  or any part thereof in the capital of a society may be transferred unless the
  
  transfer is made to a member thereof or to a person whose application for
  
  membership has been accepted.