Co-operatives Amendment Act

This section amends section 1 of the Co-operatives Act, 2005 by changing and adding definitions, including replacing the definition of “Advisory Board” with “Advisory Council”. This section amends and adds several definitions used in the co-operatives law. This section changes the Act’s objectives to focus on promoting equity, support for co-operatives, agency coordination, and public-private partnerships. A co-operative must follow the Act’s co-operative principles, give each member one vote in category A and B primary co-operatives, and set aside a percentage of surplus as an indivisible reserve under section 46(1). This amendment adds purposes about improving participation and support for disadvantaged groups, cooperatives, and public-private cooperation, with some details to be set by the Minister through notice in the Gazette.