This Act regulates establishment, incorporation, registration, and various aspects of administration and functioning of cooperatives in Finland. The Act introduces reformed rules for cooperatives, so as to correspond to the demands of modern business operations and to strengthen the competitive position of Finnish cooperatives. The Act simplifies the process of incorporating a cooperative, reduces governance obligations, and facilitates the process of acquiring capital from members and investors. A large part of the cooperatives in Finland are cooperatives for water supply purposes. Provisions on standard bylaws for cooperatives may be issued by Regulation of the Ministry of Justice. A cooperative shall be registered in accordance with provisions of the Trade Register Act (129/1979) within three months after the constitution agreement is signed.
Finlandia · 2013-06-14