4.Societies which may be registered.
A society, which has as its object the promotion of the economic interests or general welfare of its members, or of the public, in accordance with co-operative principles, or a society established with the object of facilitating the operations of any such society, may be registered under this Act :
Provided that, no society shall be registered if it is likely to be economically unsound, or the registration of which may have an adverse effect on development 3[of the co-operative movement, or the registration of which may be contrary to the policy directives which the State Government may, from time to time, issue].
