On June 20, 2023, the National Assembly passed and promulgated the Law on Cooperatives (Cooperatives) 2023, replacing the Law on Cooperatives 2012, called Cooperative Law No. 17/2023/QH (called […]
On June 20, 2023, the National Assembly passed and promulgated the Law on Cooperatives (Cooperatives) 2023, replacing the Law on Cooperatives 2012, called Cooperative Law No. 17/2023/QH (collectively referred to as Cooperative Law No. 17)
On that basis, the 2023 Cooperative Law is stipulated to include 12 Chapters and 115 Articles. The 2023 Law on Cooperatives stipulates many new points that are different from the 2012 Law on Cooperatives, some of the following main contents:
1. Regarding applicable subjects: Law on Cooperatives No. 17 of 2023 applies additional regulations to cooperative groups.
2. Regulations for establishing cooperatives: Law on Cooperatives No. 17 of 2023 stipulates the establishment of cooperatives by at least 05 official membersvoluntarily established, a decrease of 02 members compared to the 2012 Cooperative Law.
3. Cooperative members: Cooperative Law No. 17, stipulates that cooperative members include official members; Capital-contributing associate members and non-capital-contributing associate members of cooperatives, cooperative unions or members of cooperative groups
4. Development support policies for cooperatives and cooperative groups are clearly specified in Article 20 of Law on Cooperatives No. 17, including policies such as: Policies for human resource development, information and consulting; Land policy; Policy on taxes, fees and charges; Policies on access to capital and insurance; Policies on the application of science and technology, innovation and digital transformation; Market research and access policy; Investment policies to develop infrastructure and equipment; Policy to support financial consulting and risk assessment, especially in addition to the general policy for cooperatives, Law on Cooperatives No. 17 also stipulates support policies for cooperatives in the agricultural sector such as: insurance support, capital support, seeds, science, technology... stipulated in Article 28 of Cooperative Law No. 17.
5. Cooperative management organization: According to the 2012 Law on Cooperatives, it is called a management organization, but according to the amended Law on Cooperatives No. 17 of 2013, it is called an administrative organization, clearly specified in Chapter V, Law on Cooperatives No. 17.
6. Cooperative groups: Law on Cooperatives No. 17 stipulates that the establishment and organization of operations of THT shall be carried out on the basis of cooperative contracts; When THT was established, it was issued a THT registration certificate at the Finance and Planning Department in the localities.
In addition to some of the above main contents, Law on Cooperatives No. 17 stipulates new points compared to the 2012 Law on Cooperatives such as: Establishment of cooperative enterprises; Internal audit, independent audit...
Cooperative Law No. 17, 2023, promulgated and effective from July 1, 2024, is the legal basis, creating conditions to promote cooperatives and cooperatives in general and agricultural cooperatives and cooperatives in particular to ensure compliance with the country's economic development situation in the current new period./.
Procedures
