Who regulates the registration and other activities of a cooperative society

Nombre: Cooperative Societies Act, 2000 (No. 6 of 2000). País: Lesotho Tema(s): Cooperativas Tipo de legislación: Ley Adoptado el: 2000-09-15 Entry into force: Publicado el: Official Gazette, Supplement No. 1, 2000-09-15, No. 78, pp. 75-124 ISN: LSO-2000-L-58425 Enlace: https://www.ilo.org/dyn/natlex/natlex4.detail?p_isn=58425&p_lang=es Bibliografía: Official Gazette, Supplement No. 1, 2000-09-15, No. 78, pp. 75-124 Resumen/cita: Provides for the consolidation of the laws relating to cooperative societies, and repeals Cooperative Societies proclamation 1948 and Cooperative Societies (Protection) Act 1966. Part II deals with registration of cooperative societies, Part III with privileges and duties of societies, Part VI with organisation and management, Part VII with property and Funds, and Part VIII with duties and powers of a Commissioner. Schedules regulate registration and information that may be required to apply for registration. Texto(s) derogado(s): • Cooperative Societies (Protection) Act No. 10 of 1966. Texto(s) de aplicación: • Cooperative Societies Regulations 2001 (Legal Notice No. 197 of 2001).

Cooperative Societies are a powerful and effective tool for wealth creation and investment. Many people have heard about them, but only few understand them and the immense opportunities they offer. Cooperatives have the capacity to reduce poverty, enhance job creation, encourage savings, reduce business risk and improve national productivity. A Co-operative Society is an autonomous and voluntary association of individuals who come together with the objective of owning common property, and promoting the economic interest of its members. In Nigeria Cooperative Societies are regulated by Nigerian Co-Operative Societies Act which is a Federal Law that grants powers to the Governor of each state to establish a Directorate for Cooperatives which will be in charge of registering and regulating cooperatives. Application for Registration An Application for registration shall be made to the Director of Cooperatives and shall be signed by at least ten individuals qualified for membership of the society. All applications for registration must be accompanied by the Bye-Laws of the applicant Co-operative Society which are the rules and regulations which govern the affairs of the Co-operative Society. The Director of Co-operatives has the authority to refuse to register a Co-operative Society where such an Applicant Society’s Bye-Laws, for example, do not comply with the provisions of the Nigerian Co-operative Societies Act. Benefits of Registering a Co-operative Society • Upon registrat...

Regulation of Cooperative Societies Cooperative societies are governed by various laws and regulations in India. The registration and other activities of a cooperative society are regulated by the Registrar of Cooperative Societies (RCS). Role of Registrar of Cooperative Societies The Registrar of Cooperative Societies (RCS) is responsible for: 1. Registration of Cooperative Societies: The RCS is responsible for granting registration to cooperative societies under the Cooperative Societies Act, 1912. The registration process involves verification of the documents submitted by the society, such as the bylaws, list of members, and other necessary documents. 2. Monitoring the Activities of Cooperative Societies: The RCS is responsible for monitoring the activities of cooperative societies to ensure they are operating in accordance with the law. The RCS can conduct inspections and audits of the society's records and accounts to ensure compliance. 3. Resolving Disputes: The RCS is also responsible for resolving disputes between members of a cooperative society. The RCS has the power to mediate and settle disputes through arbitration or other means. 4. Imposing Penalties: The RCS has the power to impose penalties on cooperative societies that violate the law or fail to comply with regulations. This can include fines, suspension or cancellation of registration, or other disciplinary actions. Conclusion In conclusion, the Registrar of Cooperative Societies is the regulatory author...