What are the prohibited acts of members of artels, cooperatives and cooperative unions in Vietnam under the latest Law on Cooperatives?
What are the prohibited acts of members of artels, cooperatives and cooperative unions in Vietnam under the latest Law on Cooperatives?
Pursuant to Clause 3, Article 7 of the Law on Cooperatives 2023 stipulates:
3. Members of artels, cooperatives and cooperative unions are prohibited from:
a) Abusing positions and powers to obtain personal gain or interests for a group of members;
b) Providing untruthful information for their artels, cooperatives and cooperative unions.
Thus, there are 02 acts strictly prohibited by the Cooperative Law for members of cooperative groups, cooperatives, and unions of cooperatives:
- Abusing positions and powers for personal benefit or that of a group of members;
- Providing dishonest information to cooperative groups, cooperatives, and unions of cooperatives.
What are the prohibited acts of members of artels, cooperatives and cooperative unions in Vietnam under the latest Law on Cooperatives?
What are the principles for organization, management and operation of artels, cooperatives and cooperative unions in Vietnam?
Pursuant to Article 8 of the Law on Cooperatives 2023, principles for organization, management and operation of artels, cooperatives and cooperative unions are as follows:
(1) Voluntary and open membership.
Organizations and individuals may establish, join or leave artels, cooperatives or cooperative unions of their own will. Artels, cooperatives or cooperative unions attach much importance to interests of their members and increase membership engagement; irrespective of their gender, social position, ethnic group or religion, membership is open to all.
(2) Democratic and equal organization and management.
Organization and operation of an artel shall be decided by its members on a democratic basis. Official members of a cooperative or cooperative union are allowed to engage in the organization, management and operation of that cooperative or cooperative union in a democratic and equal manner, regardless of their stakes.
(3) Economic participation by members of a cooperative or cooperative union
Official members shall make capital contribution when joining the cooperative or cooperative union, and jointly control capital, funds and assets of the cooperative or cooperative union; have incomes distributed primarily according to their levels of use of products/services or levels of labour contribution.
(4) Autonomy.
Artels, cooperatives and cooperative unions shall have autonomy in their operation before the Constitution and the law of Vietnam.
(5) Education, training and information.
Artels, cooperatives and cooperative unions shall attach special importance to the dissemination of guidelines of the Communist Party of Vietnam as well as the State policies and laws on development of collective economy to their members, general public and young people; regularly provide education, training and re-training for improving qualifications and technical skills for their members and employees; provide adequate, accurate and timely information for their members.
(6) Cooperation.
Members shall cooperate and assist each other with the aim of enriching themselves and their communities. Artels are encouraged to participate in establishment of cooperatives; cooperatives are encouraged to cooperate in establishment of cooperative unions so as to improve their capability to participate in production and consumption chains of products and services. Artels, cooperatives and cooperative unions are encouraged to establish and participate in representative bodies and Vietnam Cooperative Alliance system so as to develop domestic and international cooperative movement. Linkages between artels, cooperatives and cooperative unions, and other organizations, especially state-owned enterprises, in assisting the development of such linkages, consuming and using products/services should be strengthened with the aim of facilitating effective operation of such artels, cooperatives and cooperative unions.
(7) Concern for community.
Artels, cooperatives, cooperative unions and young people shall express their concern and work for the development of a community of their members featuring solidarity and mutual assistance, and the development of local, regional, national and international residential communities.
What is the Vietnam cooperative information system?
Pursuant to Article 13 of the Law on Cooperatives 2023, regulations on the national cooperative information system are as follows:
- The national cooperative information system includes the national cooperative portal, the artel, cooperative and cooperative union database, relevant databases and technical infrastructure systems.
- The national cooperative information system shall be established consistently from central to local government; must be standardized for updating, use and management of information therein using information technology.
- The Minister of Planning and Investment of Vietnam shall issue regulations on information, update, use and management of the national cooperative information system.
The Law on Cooperatives 2023 will take effect from July 1, 2024.
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