Legislative Decree No. 8 of 1972 on cooperatives.

The aim of this Legislative Decree is to regulate the establishment of cooperatives. This Legislative Decree is composed of 10 Sections divided into 66 articles. Section I deals with the following matters: terms and definitions; establishment of cooperatives; objectives of cooperatives; requirements and conditions for their establishment; legal position; membership; and management. Section II provides for the foundation of cooperatives especially: (a) requirements and conditions necessary for their establishment; (b) statute and internal regulation; and (c) registration procedures. Section III concerns the general assembly. Section IV pertains to the management of cooperatives. Section V refers to the Control Committee of cooperatives. Section VI deals with the distribution and management of capital reserve. Section VII provides for the control on the cooperatives by the Ministry of Work and Social Affairs. Section VIII addresses common cooperatives and cooperative unions. Section IX regards the dissolution and liquidation of cooperatives. Section X contains offences and penalties.