Law No.123 of 1983 concerning aquatic resource co-operatives.

This Law consisting of 32 articles aims at regulating the work of aquatic cooperatives which are overseen by the General Administration for Fish Resources Development (GARFD). The Law includes provision regarding (i) the functions of cooperatives; (ii) their funding; (iii) establishment procedures; (iv) functions of members, as well as their rights and duties; (v) functions of the Board of Directors, its composition and sessions; and (vi) reasons for meeting of its assembly.
The Decree promulgating the Law is composed of 7 articles. The aquatic resources cooperatives must adapt their statutes and regulations according to this Law (art. 1). Formation of a new administrative board in accordance with the provisions of this Law (art. 2). Adaptation of the Fund for the Support of Fishermen Cooperatives to the provision of this Law (art. 3). The GARFD is the only competent authority to implement the rules of this Law (art. 4). The Minister of Agriculture will issue the implementing regulations of this Law (art. 5).
The aim of these cooperatives is (i) develop the water wealth in its various fields; (ii) provide different services to the members; (iii) contribute to the social development in their area; and (iv) raise the social and economic level of their members. The associations shall undertake their activities in the fields of production, development and marketing of water wealth and the provision of services required. In particular, they (i) provide the members (fishermen) with local and imported fishing tools and equipment; (ii) enable the members to own fishing vessels, boats and supplies; (iii) further the possession or management of the means of transport equipped for the transfer of production; (iv) promote the marketing of the products and set up the necessary marketing facilities; (v) foster the possession and lease of land and buildings necessary for the establishment and management of warehouses, ports and the means of production and marketing the necessary for the activity; (vi) establish and manage cooperative fish farms; (vii) encourage loans from various sources of financing; (viii) implement the training programs established by the General Authority for Fisheries Development.
Concerning the distribution of surplus, the Law deals with the remaining surplus realized in the work during the fiscal year after the allocation of project reserves and after payment of all expenses and meet all the obligations required by the work of the Association and specifies the percentages allocated to the various activities and figures. It provides also for a cooperative insurance fund to be established by a decision of the President of the Republic to insure the boats of associations, their members, and other types of insurance.