This Act concerns the formation, registration and management of cooperative societies. The Act sets out criteria and conditions for the registration of cooperatives with the registrar. The Act further defines duties and privileges of cooperative societies and rights and liabilities of members of cooperative societies. In addition, the Act provides for: property and funds of registered societies; powers of the Registrar to audit and inspect societies’ books and to hold an inquiry into the constitution, working and financial conditions of a registered society; dissolution of cooperative societies; settlement of disputes by arbitrators and appeals; and the definition of offences and penalties.
Brunei Darussalam · 1975-01-01