Act on Cooperative Sector of Economy of the Islamic Republic of Iran.

This Act, consisting of 71 articles divided into 12 Chapters, establishes the Cooperative Sector of Economy of the Islamic Republic of Iran. The objectives of Cooperative Sector are as follows: to create and secure conditions and opportunities of job for all with a view to attain full employment; to place the means of work at the disposal of everyone who is able to work but lacks means; to prevent wealth concentration and circulation in the hands of a few individuals or groups aiming at realization of social justice; to avoid government turning into a major absolute employer; to make management, capital and earned profits available to work force and to encourage them to directly use the outcome of their job; to prevent monopoly, hoarding, inflation and harming others; to develop and reinforce public participation and cooperation among people.
The Government is obliged to cooperate with cooperative sector and to provide cooperatives with necessary means and facilities with the collaboration of Ministry of Cooperatives, while observing this Act and within the scope of provisions so as not to create the ground for administration or intervention in cooperatives or for government to become absolute employer. The nationality of cooperatives must be Iranian. The Act is divided as follows: Objectives and General Provisions of Cooperative Sector (Chap. I); Membership (Chap. II); Capital (Chap. III); Profit & Loss Account, Profit Distribution and Other Financial Regulations (Chap. IV); Production & Distribution Cooperatives (Chap. V); Cooperative Constituents (Chap. VI); Cooperative Union (Chap. VII); Cooperative Establishment and Registration (Chap. VIII); Merger, Dissolution and Liquidation (Chap. IX); Chamber of Cooperatives (Chap. X); Ministry of Cooperatives (Chap. XI); Other Regulations (Chap. XII).