From THE WASHINGTON POST By David H. Webber, professor at the Boston University School of...
Act No. 25 on Cooperatives
(enacted in 1992)
Act No. 25 on Cooperatives (Undang-Undang Republik Indonesia nomor 25 Tahun 1992 Tentang Perkoperasian) repeals Law No. 12 of 1967 concerning basic regulations for cooperatives, and institutes a new legal framework for cooperatives.
The act stipulates the objective of cooperative societies as being to improve the members’ welfare and to participate in developing the national economic system. The act defines cooperatives and outlines their scope and method of operation. It specifies what constitutes capital of cooperatives and regulates the distribution of net surplus. The act institutes a cooperative movement and entitles the government to engage in particular types of interference.
DISCLAIMER: Due to the fact that an English translation was unavailable for this act, information for this summary has been taken from secondary sources and not from review of the actual legal text.