Central Co-operative Fund (Provisional Board) Regulations, 2012 (provisionalboard)

L.N. 297 of 2012

CO-OPERATIVE SOCIETIES ACT

(CAP. 442)

Central Co-operative Fund (Provisional Board) Regulations, 2012

IN exercise of the powers conferred by article 91(1) of the Co-

operative Societies Act, the Minister for Fair Competition, Small

Business and Consumers has made the following regulations

The title of these regulations is the Central Co-operative Citation.

Fund (Provisional Board) Regulations, 2012.

In these regulations, unless the context otherwise requires

Interpretation.

"the Act" means the Co-operative Societies Act;

"Committee" means the Central Co-operative Fund Committee

established by regulation 3 of the Fund Regulations;

"Fund" means the Central Co-operative Fund established by

article 91(1) of the Act;

"Fund Regulations"

means

Central

Co-operative

Fund S.L. 442.03.

Regulations.

(1)

There shall be a Board, which shall be known as Establishment

the Provisional Board of the Fund, whose functions shall be the of

Board.

following

(a)

to promote, advance and solicit ideas for projects

related to the strengthening of the co-operative;

(b)

to approve, refuse, amend or change requests and

proposals made to it by the Committee;

(c)

to authorise any spending and other expenses from

the Fund, as may be recommended to it by the Committee or as

it may establish;

(d)

to authorise any proposal related to the collecting

of contributions due to the Fund, as may be proposed to it by the

Committee or as it may establish.

(2) For the carrying out of its functions according to these

regulations, the Provisional Board of the Fund shall have all the

functions provided to it by the Committee by virtue of regulation 3 of

the Fund Regulations.

(1)

The Minister shall appoint not more than three

members on the Provisional Board of the Fund, one of which shall be

Chairperson, and this for a period or periods established in the

relative appointment.

(2) The Minister shall also appoint a person to serve as

Secretary of the Provisional Board of the Fund.

(3) The Provisional Board of the Fund shall hold its meetings

in the manner and frequency that it deems appropriate and shall

regulate its own procedure.

Notwithstanding anything provided in these regulations,

the Committee shall, prior to entering into any agreement or assume

responsibility for any payment or any obligation implying payment,

and prior to taking any action in respect of the Fund that effects third

parties, obtain the prior authorisation in writing from the Provisional

Board of the Fund.

In the case of conflict between the provisions of these

regulations and the provisions of the Fund Regulations, the provisions

of these regulations shall prevail.

€0.18