Co-operative Societies Ordinance

At least
one-
fourth of the net profits of every registered society, as
                    ascertained by the audit prescribed by
section 35
, shall be carried
                    to a fund to be called the reserve fund, which shall be employed as prescribed
                    by the rules. After deduction of any tax which may have been charged on such
                    society in accordance with the provisions of the Inland Revenue Ordinance (
Cap. 112
), the remainder of such profits and any
                    profits of past years available for distribution may be divided among the
                    members by way of dividend or bonus, or allocated to any funds constituted by
                    the society, to such extent or under such conditions as may be prescribed by the
                    rules or by-laws:
Provided that in the case of a
                    society with unlimited liability, no distribution of profits shall be made
                    without the general or special order of the Chief Executive.
(Amended
61 of 2000 s. 3
)