Amendment status not verified — confirm the current text below against the official source.
Repeal: The Assam Co-operative Societies Act, 1949 (Assam Act 1 of 1950) as enforced in Nagaland is hereby repealed. 638 SCHEDULE-'A' (See Section4 (1), 25) CO-OPERATIVE PRINCIPLES The Co-operative Principles are guidelines by which co-operative societies puttheirvalues into practice: r Principle:Voluntary and open Membership: Co-operatives are voluntary organizations, open to all persons able to use the services of such co-operatives and willing to accept the responsibilities of membership, without gender, social, racial, political, or religious discrimination. 2 nd Principle: Democratic Member Control: CO-operatives are democratic organizations controlled by their members, who actively participate in deciding their policies and making decisions. The elected representatives of co-operatives of co- operatives are responsible and accountable to their members. rd Principle: Member Economic Participation- Members of co-operative contribute equitably and democratically control the capital of their co-operative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. 4th Principle:Autonomy and Independence: Co-operatives are autonomous, self-help and self-governing organisations controlled by their members. If co-operatives enter into agreement with other organizations, including government, or raise capital from external sources, they do so on terms that ensure their democratic control by members by retaining its autonomous character. 5th Princi pie: Education, Training and Information: Co-operatives provide education and training in their members, elected representatives, managers and employees so that they can contribute effectively to the development of their co-operatives. They inform the general public particularly young people and opinion leaders about the nature and benefits of co-operation. 639 6th Princi pie: Co-operation among Co-operatives: Co-operatives serve their members most effectively and strengthen the co-operative movement by working together through available local, national, regional and international structures. 7th Principle:Concern for Community: While focusing on their member needs and wishes, co-operatives work for the sustainable development of communities, through policies approved by their members. SCHEDULE-1 B' (See Section 9) Subject matter for specific consideration when framing Bye-Laws