Dominica > Cooperatives

Dominica - Cooperatives - Law, Act

Co-operative Societies Act 2011, Act (No. 2 of 2011). -

Adoption: 2011-04-15 | DMA-2011-L-89312

AN ACT to make new provision with respect to the registration, supervision, governance, operation and management of co-operative societies including credit unions, the members of which have a common bond of philosophy and socio-economic objectives, and for incidental and related purposes.

Repeals the 1996 Act. However, all rules, regulations and bye-laws made under the former Act shall continue in force with any necessary amendments and shall be taken as having been made under this Act until such time as new rules and regulations and bye-laws are made. (See section 256).

Dominica - Cooperatives - Regulation, Decree, Ordinance

Cooperative Societies Regulations, 2001 (S.R.O. 26).

Adoption: 2001-08-21 | DMA-2001-R-61003

Made under Section 239 of Cooperative Societies Act. Regulates various aspects of activities of cooperative societies, such as dividend rate, transfer of shares, minimum amount of bond, annual financial statements and special returns, auditor's report, election of directors, term of office, meetings of directors, appointment of secretary and treasurer, duties of secretary and treasurer, supervisory committee, procedure on appeal of termination of membership, unclaimed amounts in case of terminated membership, liquidity, loan approval, borrowing by director, security for loans, loan terms and conditions, doubtful loans, doubtful loans allowance, overdue loans, investment, use of statutory reserves, credit committee, interest on loans, deposits, maximum liability on deposits and loans, bank account, and branches.