The Co-operative Societies (Amendment) Act 2024 has come into operation on 18 July 2024.
The Co-operative Societies (Amendment) Act 2024 has come into operation on 18 July 2024. Co-ops may refer to the updated model by-laws issued by the Registry for reference when amending their own by-laws to be aligned with the Amended Act. Co-ops may also refer to the new “Guidelines for payment of dividends and/or honoraria from reserves” for reference on the relevant process to seek Registrar’s approval for such use of reserves.
Separately, with the clarity provided to the definition of “surplus” in the amended Act, the Co-operative Societies (Modification) (Consolidation) Order is revoked effective 18 July 2024.
The Co-operative Societies (Amendment) Act 2024 has come into operation on 18 July 2024. Co-ops may refer to the updated model by-laws issued by the Registry for reference when amending their own by-laws to be aligned with the Amended Act. Co-ops may also refer to the new “Guidelines for payment of dividends and/or honoraria from reserves” for reference on the relevant process to seek Registrar’s approval for such use of reserves.
Separately, with the clarity provided to the definition of “surplus” in the amended Act, the Co-operative Societies (Modification) (Consolidation) Order is revoked effective 18 July 2024.
