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Rule 40
Division of Co-operative Organization
: (1) According to section 87 of the Act, when a cooperative organization is divided into two or more organizations, the following conditions must be fulfilled:-
(a) In the case of a cooperative organization whose main business is savings and loan, its area of operation is more than one ward of the local level,
(b) During localization through the process of division, active participation and democratic control of the members in the operation of the organizations will be maintained.
(2) When dividing a cooperative organization, according to the nature of the existing business, it can be divided by keeping different geographical areas of operation in accordance with the subject classification according to Rule 11. (3) The registrar or an officer authorized by the registrar may seek the opinion of the association concerned regarding the merger or division of cooperative societies.
(4) Other conditions, grounds and procedures for division shall be as provided in the procedures approved by the Ministry.
(a) In the case of a cooperative organization whose main business is savings and loan, its area of operation is more than one ward of the local level,
(b) During localization through the process of division, active participation and democratic control of the members in the operation of the organizations will be maintained.
(2) When dividing a cooperative organization, according to the nature of the existing business, it can be divided by keeping different geographical areas of operation in accordance with the subject classification according to Rule 11. (3) The registrar or an officer authorized by the registrar may seek the opinion of the association concerned regarding the merger or division of cooperative societies.
(4) Other conditions, grounds and procedures for division shall be as provided in the procedures approved by the Ministry.