Regulatory Alerts2019-06-26
Co-operative Societies (Amendment) Act 2015
Enacted by the Parliament of The Bahamas, this legislation amends the principal Co-operative Societies Act to update key definitions, adjust membership thresholds for credit unions, and mandate compliance with financial reporting laws. It establishes a National League as an Apex Body for registered cooperatives and credit unions while expanding the Director of Societies' delegation authority. The Act repeals sections 119 to 142 of the original statute, aligns cooperative management with the Co-operative Credit Unions Act 2015, and takes effect upon a ministerial gazette notice.
Share