The 81 sections of the Act are divided into 9 Parts: Administration (I); Registration and membership (II); Duties, privileges and business of societies (III); Property and funds of societies (IV); Reconstruction of societies (V); Winding-up (VI); Disputes (VII); Offences (VIII); Miscellaneous (IX). Section 3 provides for the appointment of a Commissioner for Cooperative Development as a supervisory and registration authority. Any society, having at least twelve mebers or another society as its member, and established for the promotion of economic welfare of its members, in accordance with cooperative principles or a society established to facilitate the operations of such society, is eligible for registration under this Act (sects. 8 and 9). No society may represent itself as a cooperative society or credit union unless registered under this Act (sect. 7). The Commissioner may register a society or cancel the registration of a society under sections 17 and 18. Part V deals with the transfer, division, amalgamation and other changes affecting the ownership or structure of societies.
Trinidad and Tobago · 1971-01-01