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| By-Laws |
| Co-operative
Act |
| The
Co-operative Act No. 28 of 1999, permits and protects the operations
and organisation and character of Co-operative Societies in St Lucia
and provides for every matter that touches on the business of the
society and its membership. The Rules and By-Laws of Societies in
keeping with the Regulations are registered under this Act. The
Act is arranged in parts and sections to accommodate applications
for registration and the different groups of matters affecting societal
issues and their business operations.
Co-operative Societies Regulations The Co-operative Regulations No. 90 of 1999 guides the constitutional conduct of co-operative societies and provides additional detailed support to the Act. |
| By-Laws
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| The rules or by-laws of societies are patterned on the Act and Regulations which allow for uniformity of conduct of all co-operative societies . The arrangement of the Regulations are itemized and provides various legal forms that are necessary under the First Schedule and fees payable as a Second Schedule. Any violation of either of these instruments constitutes a case for disciplinary judgment to be made either by the Registrar or pursued through the courts for purposes of enforcements. Anyone who does business with the societies, outside of its membership may seek redress under these legal instruments, as feasible. Prudential Standards This standard has been implemented in order to develop and monitor the performance of Co-operatives. The Acronym “PEARLS” provides a strict set of standards and an effective management tool, that is especially critical to the success and future viability of developing Credit Unions. These ratios provide Credit Unions, Management, Staff, Directors and Regulators, with essential tools for monitoring, planning, standardizing ranking and facilitating Supervisory control. |
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Co-operative
Act & By-Laws
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