(1) No person other than a registered society shall, without the prior approval of the Commissioner responsible for Labour and Social Welfare, trade or carry on business under any name or title of which the word "Co-operative" is part.
(2) Nothing in this paragraph shall apply to the use by any person or his successor in interest of any name or title under which he traded or carried on business on the 8th day of May, 1937.
(3) Any person who contravenes the provisions of this paragraph shall be guilty of an offence and shall be liable on conviction to a fine not exceeding one hundred new cedis, and in the case of a continuing offence to a further penalty of two new cedis for every day during which the offence continues.