Posted on

Official document to govern SVG Co-operatives Societies

Share

19.MAY.06

The SVG Co-operatives Societies Regulations 2006 were expected to have been gazetted this week.

This announcement was made last week when Minister of Co-operatives, Mike Browne, addressed the 40th Annual General Meeting of the General Employees Co-operative Credit Union (GECCU).{{more}}

Minister Browne noted that Cabinet had adopted the regulations at its meeting on April 26, and he signed and forwarded them this week to the office of the Attorney General for gazetting.

The regulations will take immediate effect.

The regulations form part of the Co-operatives Societies Act of 1999, and will guide the operations of co-operatives and credit unions, paying particular attention to transparency, accountability and internal democracy.

For years, Vincentian co-operatives and credit unions have been calling for these regulations. In March of this year, Minister Browne gave a public undertaking that he would “fast-track” their coming into being.

LATEST NEWS