What is the body with responsibility for regulating cooperatives in Jamaica?
What is the body with responsibility for regulating cooperatives in Jamaica?
The Department of Co-operatives and Friendly Societies (formerly know as the Co-operative Department) was established in 1950, to regulate Societies registered under the Co-operative Societies Act. The Co-operative Societies Act and its accompanying Regulations were promulgated in October, 1950.
How many persons are required to register a co-operative society as per co-operative Societies Act 1961?
the case of a society of which no member is a registered society, by at least ten persons qualified in accordance with the requirements of section 23; 46/1957 and in the case of a society of which a member is a registered society, by a duly authorized person on behalf of every such registered society, and, where all …
What is Cooperative Societies Act?
The KARNATAKA CO-OPERATIVE SOCIETIES ACT, 1959. An Act to promote voluntary formation, autonomous functioning, democratic control and professional management of cooperative societies in the State of Karnataka.
Which Act governs the cooperative society in India?
Cooperative Society Act, 1950.
Which one of the following is the purpose of cooperative societies?
A cooperative is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.
What are examples of cooperatives?
Agriculture cooperatives such as Blue Diamond or Land O’Lakes are examples of producer cooperatives. Consumer co-ops: Consumer co-ops are owned by the customers who then purchase goods and services from the cooperative. Grocery co-ops are a well-known example of consumer cooperatives.
Can family members be members of co-operative society?
Sir please clarify whether at the time of registration or after registration of a cooperative society, 2 or more member of same family can be member in one cooperative society. Sir no other provisions of the above Regulations restrict or disqualifies member of same family for admission in any cooperative society.
Who controls cooperative society?
As the vast majority of co-operative societies are operating only in one State, the State Government and the Registrar of Co-operative Societies appointed by the State are the main regulatory authorities for the co- operative societies. 1. Constitution of India, Schedule VII, List II, Item 32.
Which section of Cooperative Societies Act 1912 defines cooperatives?
Section 4 in The Co- Operative Societies Act, 1912.
What are the major provisions of 1912 Act?
(1) The transfer or charge of the share or interest of a member in the capital of a registered society, shall be subject to such conditions as to maximum holding as may be prescribed by this Act or by the rules. (b) the transfer or charge is made to the society or to a member of the society.
Who manage the cooperative society?
All the members of the society are jointly known as the general body, whereas the members who manage the cooperative society are jointly known as the managing committee. They democratically manage a cooperative society. “One member one vote” is the rule, and thus members can have a voice in management.
How many types of cooperative societies are there?
Types of Cooperative Societies – 6 Main Types: Consumers’ Co-Operative Societies, Producers’ Co-Operative Societies, Co-Operative Marketing Societies and a Few Others. Co-operative societies may be classified into different categories according to the nature of activities performed by them.
