Framework Act on Cooperatives.

The purpose of this Act is to facilitate independent, self-supportive, and autonomous activities of cooperatives, thereby contributing to social integration and balanced development of the national economy by providing for basic matters regarding the establishment and operation of cooperatives. In particular, the Act makes provisions for the registration and organization of cooperative societies, defines their powers, privileges and duties and provides for their internal organization, management and finances, and provides for other matters relating to the functioning of cooperative societies and cooperative development.The text consists of 119 articles.