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Bangladesh (109,060) > Cooperatives (1,078)

Name: The Cooperatives Societies Ordinance. No. 1 of 1985.
Country: Bangladesh
Subject(s): Cooperatives
Type of legislation: Regulation, Decree, Ordinance
Adopted on: 1984-12-31
Entry into force:
Published on: Printed separately, 1985-01-15, 50 p.
ISN: BGD-1984-R-32314
Bibliography: Printed separately, 1985-01-15, 50 p.
Abstract/Citation: This ordinance, repealing the Society Act of 1940, regulates the settlement and management of cooperatives. It sets forth the procedure and criteria for registration. The management of cooperative societies shall vest in a managing committee whose members are elected by the General Assembly. Restricts the possibility for cooperatives to receive deposits and loans from persons who are not members of cooperatives. Provides for the privileges of cooperatives societies as for example the possibility to change their form and liability. Other provisions cover the property and funds of cooperative societies, distribution of profits, privileges, liabilities and obligations of members of cooperative societies, audit, inspection and inquiry, settlement of disputes, winding up and dissolution of cooperative societies. An entire chapter deals with special provisionss for cooperative land mortgage banks, central societies and national societies. Provisions are made for the enforcement of obligations and the recovery of sums due. Regulates jurisdiction and appeal, offences, penalties and procedure.

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