To set up a new co-op, the following documents are required to be submitted:
b) For non-credit society, please use this form, with at least 5 persons' personal details and signatures included
c) A set of By-laws
d) Viability statement (business plans and cash flow forecast)
• Cash flow forecast of at least 3 years. If viability statement is unchanged from earlier submission,there isn't any need to resubmit.
e) Minutes of Preliminary Meeting, with signatures of all those present.
Not Eligible For Membership of Committee of Management:
No person shall be eligible for membership of the Committee of Management of a co-operative society if:
• He is below 16 years old (or below 12 years old if it’s a school co-op);
• He is not a Singapore citizen or resident in Singapore, subject to the Registrar’s approval;
• He is an undischarged bankrupt;
• He has been convicted of an offence involving fraud or dishonesty
• 5-year disqualification period applicable for non-credit co-ops
• No time bar for credit co-ops;
• He has been convicted of an offence under the Co-operative Societies Act;
• He has been dismissed as an employee of a co-operative society;
• He has been found to have previously misused or mismanaged the funds of a co-operative society; and
• He has previously been removed by the Registrar from the committee of management of any co-operative society, or suspended by the Registrar.
The above information is found at: MCCY, How to set up a co-operative society.
Applicants may contact us, the Singapore National Co-operative Federation to seek assistance, and support, on how to set up a co-operative society.