Section 28: Attachment, charge and set-off

28. Attachment, charge and set-off (1) Notwithstanding any other enactment— (a) the share or interest of a member shall not be liable to be charged, seized or attached by a creditor of the member under the order of a Court in respect of any debt or liability incurred by the member; and (b) where a member is adjudged bankrupt, the Official Receiver shall have no claim on the share or interest of the member. (2) A society shall have a charge which shall rank in priority— (a) on the shares and deposits of a member, past member or deceased member; and (b) on any dividend or bonus payable to a member, past member or estate of a deceased member in respect of a debt due to the society by the member, past member or estate of a deceased member. (3) A society may set off any sum payable to a member, past member or estate of a deceased member against the payment of any debt due to the society by the member, past member or deceased member. [Issue 9] C49 – 14 Revised Laws of Mauritius (4) No bank shall have a charge on any sum invested in the bank— (a) by the society where the bank is not the sole creditor of the society; or (b) by a society from any provident fund in which the society is a member.