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Cooperative Societies Act (Cap. 84) (No. 3 of 1975).

Main Region

First Region

Brunei Darussalam
Cooperatives
1975-01-04
National
Law, Act

Second Region

A society which has, as its object, the promotion of economic interest of its members in accordance with cooperative principles, or a society established with the object of facilitating the operations of such a society, may be registered by the Registrar appointed by the Sultan. Amendments of by-laws must be approved in the registrar. Specifies that a cooperative shall have a charge upon the shares on interest in the capital and on the deposits of a member, and that it may set off sum credited or payable to a member or estate of a deceased member in payment of members' debts. Sets forth the conditions for membership. A cooperative shall not make any loan to any person other than a member unless that, with the consent of the registrar, it may make loans to another cooperative. Entitles the Mentri Besar to restrict the lending of money on a mortgage or charge of any description of immovable property by any cooperative. Regulates the investments of funds and the distribution of profits among members. Other provisions cover audit, inspection of societies' books by the registrar, dissolution and liquidation of cooperatives. Provides for the settlement of disputes and authorizes Mentri Besar to make rules in order to give effect to the provisions of this Act.

Electronic region

Serial region

    Serial title
    Government Gazette
    Date
    1975-07-01
    Volume
    Vol. XIII
    Number
    No. 3
    Page range
    pp. 41-105