|Name:||Cooperative Societies Law No. 8 of 1972|
|Type of legislation:||Law, Act|
|Entry into force:|
|Published on:||Printed Separately, 1972, 11p.
|Bibliography:||Printed Separately, 1972, 11p.
Act on-line in Arabic FAOLex, Food and Agriculture Organization of the United Nations PDF (consulted on 2010-03-25)
|Abstract/Citation:||General provisions cover the definition of cooperatives, membership, and shares. It sets forth the establishment of cooperative societies, which include by-laws and registration. Sets up the General Assembly who consists of all members of the Society. Specifies that each Society shall have a Management Committee to follow up the preparation of reports and final accounts, and a supervisory Committee to control the functioning of the society's operations, by-laws and decisions of the General Meeting. Provisions are made for the distribution of surplus and the reserve fund. The Ministry of Labour and Social Affairs has the right to supervise all kinds of cooperatives through its inpectors as for example to stop the execution of any cooperative decision if it is against the cooperative law or cooperative principles. It finally deals with Secondary Societies, Cooperative Unions, as well as the liquidation and cancellation of cooperative societies.|