From CapeNews.Net By ELIZABETH W. SAITO August 8, 2014 Forty years ago today, President Richard M.
Co-operatives Act No. 14
(enacted in 2005)
The Co-operatives Act No. 14 provides for the formation and registration of co-operatives in South Africa, as well as for the establishment of a Co-operatives Advisory Board. Some microfinance providers in South Africa are organized as cooperatives, and to that extent they are governed by this act.
The act is organized as follows:
- Chapter I Definitions, Purpose and Applications of Act;
- Chapter 2 Registration, Constitution, Powers of Co-operative and Registered Office, and Record Keeping by Co-operative;
- Chapter 3 Membership of Co-operatives;
- Chapter 4 General Meetings;
- Chapter 5 Management of Co-operatives;
- Chapter 6 Capital Structure;
- Chapter 7 Audit of Co-operatives;
- Chapter 8 Amalgamation, Division, Conversion and Transfer;
- Chapter 9 Winding-Up and De-Registration of Co-operatives;
- Chapter 10 Judicial Management;
- Chapter 11 Administration of Act;
- Chapter 12 Co-operatives Advisory Board; and
- Chapter 13 Miscellaneous Provisions.
The schedules are:
- Schedule 1 Special Provisions Relating to Certain Kinds of Co-operatives; and
- Schedule 2 Laws repealed by Section 98.