Template for Cooperative Registration Application effective from July 1, 2024

Form of Cooperative Registration Proposal from July 01, 2024?

In the Appendix issued with Circular 09/2024/TT-BKHDT, there is a prescribed template for the Cooperative Registration Proposal.

View details and download the cooperative registration proposal form here.

What are the principles of organization, management, and operation of cooperatives and unions of cooperatives?

Article 8 of the Law on Cooperatives 2023 stipulates 7 principles of organization, management, and operation of cooperatives and unions of cooperatives as follows:

- Voluntary participation and expansion of member admission.- Democracy and equality in organization and management.- Responsibility for participating in the economic activities of cooperative members and union of cooperative members.- Autonomy and self-responsibility.- Emphasis on education, training, and information.- Strengthening cooperation and linkages.- Attention to community development.

Form of Cooperative Registration Proposal from July 01, 2024? (Image from Internet)

Are cooperatives allowed to contribute capital and purchase shares to participate in enterprises?

According to Article 82 of the Law on Cooperatives 2023, the regulations on capital contribution and share purchase to participate in enterprises are as follows:

Capital Contribution and Share Purchase to Participate in Enterprises

1. Cooperatives and unions of cooperatives are allowed to contribute capital and purchase shares to participate in enterprises, except for enterprises that are already official members or associate members contributing capital to the cooperative or union of cooperatives for the purpose of supporting activities, links, consumption, and utilization of products and services of the cooperative or union of cooperatives.

2. Cooperatives and unions of cooperatives exercise their rights and duties as members and shareholders of the enterprise in accordance with the law on enterprises and related laws.

3. Enterprises are allowed to contribute capital and purchase shares but cannot become official members or associate members contributing capital to those cooperatives or unions of cooperatives.

4. The contribution of capital and purchase of shares to participate in enterprises by cooperatives and unions of cooperatives must ensure the following regulations:

a) Approved by the General Assembly of Members;

b) Not using funds belonging to the indivisible common fund and indivisible common assets to contribute capital and purchase shares to participate in enterprises.

5. The Government of Vietnam stipulates the conditions for capital contribution and share purchase to participate in enterprises.

Thus, cooperatives are still allowed to contribute capital and purchase shares to participate in enterprises, except in cases where the enterprise is already an official member or associate member contributing capital to the cooperative or union of cooperatives for the purpose of supporting activities, links, consumption, and utilization of products and services of the cooperative or union of cooperatives.

Note: The contribution of capital and purchase of shares to participate in enterprises by cooperatives and unions of cooperatives must ensure the following regulations:

- Approved by the General Assembly of Members;- Not using funds belonging to the indivisible common fund and indivisible common assets to contribute capital and purchase shares to participate in enterprises.

What are the rights of cooperatives?

Article 9 of the Law on Cooperatives 2023 stipulates the rights of cooperatives and unions of cooperatives as follows:

- Organize and effectively implement the set objectives and targets.- Decide on the organization, management, and operation of the cooperative or union of cooperatives; hire and use labor.- Engage in business and production activities in industries and trades that are not prohibited by law.- Request members to register their needs for products and services to develop and implement plans for the supply and consumption of products and services for members.- Provide products and services externally after fulfilling obligations and ensuring the interests of members according to the Charter or relevant laws.- Provide services and organize economic, social, and cultural activities for the purpose of caring for the lives of members, the community, and sustainable development.- Participate in the implementation of policies, programs, and projects for economic, cultural, and social development; ensure political security, social order and safety, and environmental protection in the community.- Admit new members and terminate membership according to the provisions of cooperative law.- Increase or decrease charter capital during operation.- Raise capital according to legal regulations.- Provide internal loans according to the law.- Monitor separate revenue and cost items for internal and external transactions.- Jointly venture and cooperate with organizations and individuals domestically and internationally to achieve the operational objectives of the cooperative or union of cooperatives.- Contribute capital, purchase shares, and establish enterprises to support the operation of the cooperative or union of cooperatives.- Implement income distribution and handle cooperative or union of cooperative losses and debts.- Participate in representative organizations of cooperatives or unions of cooperatives.- Lodge complaints and denunciations against acts violating the legal rights and interests of the cooperative or union of cooperatives in accordance with the law; resolve internal disputes and handle violating members as prescribed by the Charter.- Other rights according to legal regulations and the Charter of the cooperative.

Best regards!