155 tal-1989

I..N . 155 of 1989

TIlE CO-OPERATIVE SOCIETIES ACT, 1978

(ACT NO. XXVI 01' 1978)

The C{H)peratl~e Socwtles (Central C{H)peratlve Fund)

Rl'gulations. 1989

IN exe rciseoflhe powers conferred by scctions86( l) and 1130f the

Co-operative Societies Act. 1978. the Minister of Productive

Development, with the concurrence of the Ministc r of Finance, has

made the following regulat ions:-

I. These regulations may be cited as the Co·operative Societies m •• ion.

(CeDlral Co-operative Fund) Regulations, 1989.

(I)

In these regulations -

"Act'· means the C(H)perative Societies Act, 1978;

"Malta" has the same meaning as is assigned toit in section 124

of the Constitution.

(2) Words and phrases not defined in Illese regulations shall

ha ve the same meaning as is assigned to them in the Act.

3, (I) 'lbere shall be a Committee acting in acoordance with Ihe

general policy directives of the Co-operative Board, which shall be

known as the Central Co-operative Fund Committee. whose functions

shall be:-

(a) to promote co·operative educat io n, training and audit

fo r the general development of the C(H)perative movemcnt in

Malta;

(b) to finance education and training programmes for

personnel engaged in C(H)peralive promotion and t.levelopment in

Malta;

(c) to provide st udy hur;aries for specialised professio nal

tra in ing in Co-operative o rgan isatio ns and management to enable

the personnel mcntioned in the last preceding paragraph to travel

abroad 10 pursue study courses and gain relevant practical and

theoretical experience

(d) 10 sponsor expert guesllecturers in Co-operati~e Studies

to visit Malta to o rganise and conduct special trai ning seminars;

(e ) to commission research in parti cular areas of Co-

operative activity in Malta with a view of assessing past

performance and discovering possible potential for future

operat io n

(0 to publish Co-ope rative educational mat erial for the use

by members of Co-operative Societies and school children with a

view of promoting Co--<>perative ideals and practices.

(\) Ghandll jitwaqqaf KlImita t li jagixxi skond id-dirc ltivi la' T'<o"oq<tir ~

policy generiCi lal -Bord lal-Koperalivi. lijkun magl'lrufbl'lala I-KumilDt ,aI·l:umi,Ol

lal-Fond Centrali tal-Kopcralivi, 1i jkollu dawn il-funzjonijiel : -

(3) li jgib -il quddiem I-ed ukaujoni. it-Ial"l.rig u l-veril'ika lal- "-'"U,.;.

koperalivi ghall-itvilllpp gene rali lal-moviment Kopcraliv fMalta;

(b) li jiffinanzja programmi la' edu kazzjoni u ta ' tahrigghal

lIfficj aH involuti fiI -promozzjoni u :i:vilupp tal-Kopcrativi rM aha;

(c) li jipprovdi boroz la' studj u ghal tal'lrig professjonali

spetjalizzal fil -tmeuija u fl-organizazzjoni ta' Koperalivi sabiex 1-

uffitcjali m'lCmmij in fiI·paragrafu la' qabe l dan ik ll nll jistgl'lu isiefru

barn minn Malla bie)( jattendll ghal :i:minijiet ta' studju u jiksbu 1-

espe"rjenza rilevanti kemm pratli ka u tejo rika;

(d) li jaghmilha la' sponsor ghal kelliema espc rli dwar Studji

Koperalivi I; jigu mistednin iiuru Malla sabie)( jorganiWlw u

jme)()(u semi nars spetjali la- lahrig;

(e) li jaghti bidu ghal riterka dwar oqsma parlikolari ta'

Dnivit il. Koperaliva r Malla bil-ghan illi jqis dak kollu li $3r fi ZmKn

qabcl u jiskopri kull potenzjal possibbli ghall·futll r

(I) li jippubblika material edl,lkaniv dwar Koperativi $abie"

dan jinluZa minn membri ta' Ghaqdiet Koperativi u mi nn Ifa l tal-

iskola bit-ghan illi jgib 'il quddiem idejal; u prattika tal-

Koperalivi.

(I) The Co-operatives Board sha ll appoint the Commitl ee o f

the Centra) Co-operative Fu nd.

(2)

The Central Co-opera tive Fund Comminee shall consist

of

(3) a Chairman, who shaH be the Chairman of the C0-

operatives Board or. in his absence, the Act in g Chairman of the

said Board , and who shall have a casting vote;

(b) two othe r members of the Co-operatives Board elected

by ballol, by the said Board;

(c) a membe r nominated by Ihe Min ister who in his opinion

has had clIpe rience in matters rel ating to co-operatives;

(d) three members 10 be elected by secret ballot from among

the oommiltee members of all Co-operative Societies at a meeting

to be called for this specific pu rpose by the Co-operatives Board;

(c) a Secretary, wOO m all be the Secretary of the C0-

operatives Board and woo shall have no vote.

(3) The elected members of Ihe Comm illee shall be

appoinled for a period of IWO years provided Ih al they shall hold office

only if lhey remain membe rs of the respective Board which they

represent .

(4) AI the end of their term of office , elected membe rs shall

be eligible for re-appoin tment .

(5) A member of the Com millee shall be paid sueh

hono rarium u the Commillee, wi tl! tl!e concurTeucc oft he Ministe r a nd

o f the Minister responsible for finance, may from time to time

determine , and sucl! hono rarium shall be paid out of th e Central Co-

o peralive Fund.

(6) Whe n a vacancy occurs fo r .... hateve r reason in respect of

a member of the Committee appointed in terms of pa ragraph (2) (b) of

this regulatio n such vacancy shall be filled by anot her me mber of the

Board appointed by ballot, to fill in tbe said vacancy.

(7) When a vacancy occurs for whatever reason in respect o f

a mem be r o f the Co mm ittee appointed in te rm s of paragraph (2) (d ) of

this regulation such vacancy shall be filled by the perron .... ho had

obtained the highest number o f votes from among the non-elected

candidates o f the last preceding electio ns

Provided that a member e lected in virtue of paragraphs (6) I.nd

(7 ) of this regulation shall only hol d office fo r the remaining term of

office o f the member he replaces .

.5. The judicial representat ion o f tbe Committee shall be vested in

the Ch airm an

Provided that the Comm il1ee ma y appoint anyone o r more of

the othe r me mbers of the Commil1ee to appear in the na me , and on

be half of the Co mm ittee. in any judicia l proceedin gs, and in Mly act ,

co ntract or inst rument whatsoever.

Ir-rapprde ntaoUl guridika tal· Kumi tat lkuo veslita

Chairman

IMa I-Kumi tat jista' jahtar wi ehed Jew akt ar mill·membri l-oh ra tal·

Kurnit al biex jidher ri se R! , u ghall- Kum itat fku ll proeedime nt

gudizzjarju, u fku ll att, kuot ratt Jew kitba ikuo li jkun .

(1) Mee tings of the Co mmittee shall be conve ned by the Pr<ntl" ..

Chairman as often as necessary but in any case: at inte rvals of not le ss "Uh<

than once in every th ree months.

(2) Thc quorum at all mee tings of the Committee shall not be

less than four me mbers of the Co mmitt ee, not including the Secretary,

but the Chairman and another member from those mentioned in

regu lations 4( 2) (b) a nd 4(2) (c) of thcse regulati o ns shall have: to be

present.

(3) Subject to tne: provisions of the last preceding paragraph

the Co mmi llee shall not be precluded from holding a ny meeting or

acting in any malle r merely by reason of any vacal1(:y in its membership.

(4) All decision s of the Commi ttee shall be ta ken by a simple

majority of votes o f all me mbers prese nt and voting.

(5) Subject to these regul ations. the Committee may

regulate its own procedures.

( I) A cu rrent accoun t shall be opened in anyone of the

commercial Ban ks approved by the Minister on the recomme ndation of

the Committee . whe rein shall bede posited a ll moneys received in virtue

of

sub-section (3) of 5Cct;on 9 of the Act;

(a)

(b)

sub-section (3) of sect io n 860fthe Act; and

(c)

su b-scct ion (4) ofscction 101 of the Act .

(2) Moneys in the curre nt account whi Ch are surplus to

requi re me nts may be deposited in asavings accoun t or in a fbled deposit

acco unt at the approved Bank . o r invested in local Governme nt Stock

or bills as the Com mittee m ~y deem fi t, provided that the total amount

in the current account and savi ngs account shall not be less tha n 25% of

the total amo unt in the Central Co-operative Fund .

( I) Every payment made 0 1,11 of th e Ce ntr~ 1 Co-operative ,,,"Central

Fund sh~ 1I be su pportc:1 by a vouche r signed by the Chairman and two (:""'I"'lOti ..

othe r members o f the Committee

(2) Payme nts shall be made: by cheque which shall be signed

by the Chairman and another memberofthe Committu .

Il- Kumitat ghandu jtornm jew il -kontijiclliegl'lu koU ha 11 kul]

dokumcntazzjo ni 0 l'l r3 mchticga dwar iHr3nsaujonijiet finanzjarj i lal·

Fond.

( I) II -kontijiet tal-Fond ghand hom jigu verifikati mid-

DirenuT tal-Verifika, u ghaJ dan il-ghan, huwa gI'landu n.ull tm icn

ikoilu att.e5sshil'l u liberugh aU·kontij iet u dokumenlazzjoni ohra koll ha

li ghandhom x'jaqsmu mat-transa.zzjonijict finanzjarji tal-Fond.

(2)

Id-Dircttur tal· Verifika ghandu jirrapporta dwar -

(a) jek"" id-dikjarazzjonijic. finanzja rji ikunux juru b'mod

sew u kom:n il-lranS3Z2!jonijiel finan~jarji u l-isI3113' nego~ju ta1·

Fond ;

(b)

jekk. ikuRUX intammu kontijicl u dok.umcntaujoni ohm

sew;

(t)

jekk l-ircevuti . hlasiji et, depotiti u invest im enti ta '

ammont; ta' flus li ghandhom x'jaqsmu mal-Fond ik unux saru

skond id--dispotizzjonijiella' I-Att u ta' dawn ir-regolamcn ti;

(d )

kul1 haga ohra rilevanti I; lohTog mil1 -ve rifika,

11 _ Kemm jiSla' jkun mplajr wara li jigu verifikati I-kontijiet wara

I-ghc luq ta ' kull sena fina nzjarja , it-Chairman tal-Kumita t ghandu

jis'iOUOnleui d ikjaraujoni la ' konlijic l liII-Minislf\l u lill-Min istru

TeSponsabbli ghall-Finanzi,

The Committee shall keep proper account s and all o ther

necessary records in respect of the financiHI tr~ns~C1ions of the Fund.

10. (1) 'n,c accounts of The Fund stJaU be audited by the

Director of Audit, and for Ihis purpose, he shall at all reasonable limes

have fu ll and free access 10 all accounting.nd othe r records relating to

the finaocialtranS3ctions of the Fund.

(2) The Di rector of A udit shall report on -

(a) whe lher the financia l sta teme nts 5how fairly and

oom:ctly the financial transactions and the state of affairs of the

Fund;

(b)

whethe r prope r accouming and o ther records have bee:!

kept ;

(e) whether the receipts. payme nts, dcposill> and

invest me nts of monies in respect of the Fund have beeR in

accordance wi lh the provisions o f the Act and these regulations;

any o ther relevan t matters arisi ng from the Budi!.

(d)

11 . As soon liS posssible, after the acoounts are audited following

the close of each cale ndar year. tne Chairman of tne Commi n ec shall

subm it a stateme nt of acc[)unt to the Minister and to the Mi ni ster

responsible for Finance.

Any notice. com munication o r o ther document. and any

othe r alllhorization issued by or on be half o f the Committee shall be

signed by the Chai rman or by any other person, duly aut ho rised in

writing by the Chairman 10 act for the purpose on behalf of the

Chairman.

An y notice. commu nication o r othe r document addressed 10

Il .

the Committee sha ll be addressed to the Chai rma n.

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