Cooperative Law.

This Act provides for the registration, organization and functions of cooperative societies as defined in section 2 and defines the functions of the Department of Cooperative Development. The Department shall act as registrar of cooperative societies, shall control activities of societies, implement provisions of this Law and issue Regulations regarding operations of cooperative societies (art. 2). Articles 4 to 8 provide for registration of cooperatives, whereas articles 9 to 14 concern membership. The organs of a cooperative shall be the General Meeting, the Managing Committee and the Supervisory Committee. Functions, etc. of these organs are regulated in articles 15 to 27. Remaining provisions of this Law concern financial arrangements, shares, the reserve fund, dispute resolution, amalgamation, merger or dissolution of cooperative societies.