This Act makes provision with respect to establishment, registration, management, operation, reconstruction, amalgamation and dissolution of co-operative societies The Bahamas. It also contains rules relative to the disposal of produce of members through co-operative societies and provides for settlement of disputes. For this purpose it establishes the Registered Societies Appeals Tribunal. Before carrying out business, co-operative societies shall be registered with the Director of Societies established under this Act. The Director shall also perform other functions including the supervision of societies. The Act also creates an apex body, which shall coordinate, assist and promote all registered societies. Societies shall have a precedence in claims on debts to be recovered from members, excluded government claims or claims relative to rents by landlords.
Bahamas · 2005-09-29