Amendment status not verified — confirm the current text below against the official source.
The Government may, by notification in the Official Gazette make Power to make ; rules. tules for carrying out the purposes of this Act. PUNJAB GOVT GAZ. (EXTRA.), NOV. 8, 2019 126 (KRTK 17, 1932 SAKA) SCHEDULE TT (See sections 4 and 5) CO-OPERATIVE IDENTITY A group of individuals or a co-operative society or g el Suppor, i i shall frame by-laws; co-operative society under this Act, Such societies shall be autonomous bodies, consisting of persong Unite voluntarily to meet their common economic, social and cultura] Needs ang aspirations through a jointly owned and democratically contro]leq enterpric, and are based on the values of self-help, self-responsibility, Semone hall follow the ethicy] caring for others. equity and solidarity. Their founders and members s values of honesty, openness, social responsibilities and They shall be governed by the guidelines as below :— A. Voluntary and Open Membership : These societies are voluntary organization, o ¥, equal, pen to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination : B. Democratic Control] : They are democratic Organizations controlled by the members, who actively participate jp setting their policies and making decision. Elected Tepresentatives of these Co-operatives are accountable to their members: C. Economic participation of members - The members of such societjes shall contribute equitably and control the capital of their Co-Operative democratically. At least, a part of the surpyg arising out of the economic results would be the Common Property of the co-operates. The remaining surplus ¢oyq be utilized benefiting members in Proportion to tej, share in the CO-Operative society; D. Autonomy and independence : The Y are autonomoyg, self-help Organizations, controlled by organs mers. If they enter into agreements with other Zations, including Government of raise capital from PUNJA B GOVT GAZ. (EXTRA), NOV. 8 2010 127 (KRTK 17, 1932 SAKA) external sourc es, they do so on the terms that ensure their E. Education, Training and Information : Dey hel A — and training to their members, can JAG managers and employees so that they operati © ectively to the development of their co- perative society. They also make the general public particularly young people, aware of the nature and benefits of cooperation. Cooperation among Co-operatives : They shall serve their members most effectively and strengthen the co-operative movement by working together through available local, national, regional and international structures; and G. Concern for Community : the needs of their members and work for They shall focus on elopment through policies approved by the sustainable dev their members. REKHA MITTAL, Secretary 10 Government of Punjab, Department of Legal and Legislative Affairs.