Co-operatives Act, 2016 (No. 22 of 2016).

This Act makes provision for the registration and organisation of co-operative 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. It establishes the Co-operative Development Advisory Board, a Co-operative Tribunal, National Co-operative College, the office of the a Registrar of Co-operative Societies, the Co-operative Development Fund and, in the Ministry, a Co-operative Audit Unit. The Act furthermore provides with respect to joint venture, amalgamation, merger and conversion of societies and resolution of disputes. The Act consists of 128 sections divided into 17 Parts.
Where a society is registered, the rules shall, subject to this Act, have the effect of a contract between the society and its members and among the members themselves, whereby they agree to act in all respects according to the rules. A society shall, in respect of a loan or advance made by the society to a member, or in respect of any other sum due by a member or an employee to the society, have a privilege on the crops or other movable farm assets. The Fourth Schedule sets out classes of co-operative societies.