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Botswana - Cooperatives - Law, Act

Cooperative Societies Act 1989 (No. 5, 1989) (Cap. 42:04). -

Adoption: 1989-05-03 | BWA-1989-L-32307

This Act, repealing the Cooperative Societies Act, chapter 42:03, of 9 April 1964, provides for the powers of the Minister to foster and encourage development. Sets forth the appointment of a Commissioner for Cooperative Development whose mission is mainly to encourage the formation of cooperative societies by providing information on cooperative principles and to provide advice and training for officers of cooperative societies, their members and employees. Regulates the registration of cooperatives which respect basic cooperative principles hereby enumerated. Entitles all societies to form secondary societies to facilitate their operations or to provide other services as may be necessary for their members. Other provisions cover qualification for membership and expulsion of such members. Specifies that the supreme authority of cooperatives shall be vested in the general meeting of members. Enumerates the duties of such meetings and provides for the election of a Committee of Management. Provisions are made for the establishment of a Statutory Reserve Fund and the division of net surplus among members. Regulates loans made by societies, deposits, investments of funds and restricts capital expenditure. Appoints an external auditor who shall make reports to members. Provides for the amalgamation and division of cooperatives, for the settlement of disputes and for the liquidation of cooperatives.