Co-operative Societies Regulations, 2008 (S.I. No. 4 of 2008)

2. Definitions.

3. Fann required,

4. Fees.

5. Filling oulofdocumcnts.

6. Dividendratc. 7, Transfer of shares.

8. Minimum amount of bond.

9. Procedures on appeal of tennination of membership. l0. Annual financial statemenls.

11. Auditor's report.

12. Standard of financial statement and auditor's report.

13. Election of directors.

14. Meetings of directors.

15. Appointment of secretary and treasurer. 2 STATUTORY INSTRUMENT Regulation t 6. Duties of secretary and treasurer.

17. Supervisory committee.

18. Unclaimed amounts.

19. By~lawsofhousingsociety.

20. Amount of bond for credit union.

21. Liquidity.

22. Loan approval.

23. Borrowing by director, etc.

24. Security for loans.

25. Maximum period for interest on loans.

26. Doubtful loans allowance.

27. Use of reserves.

28. Credit committee.

29. Jntereston loans.

30. Deposits.

31. Maximum loon liability.

32. Minimum value of shares.

33. Bank account.

34. Branches.

35. Revocation. FIRST SCHEDULE SECOND SCHEDULE STATUTORY INSTRUMENT 3 Co-operative Societies Act Cap. .l78A CO-OPERATIVE SOCIETIES REGULATIONS, 2008 The Minister in exercise of the powers conferred on her by section 269 of the Co-operative Societies Act, makes the following Regulatio11s:

1. These Regulations may be cited as the Co-operative Societies Citation. Regulations, 2008,

2. In these Regulations, Definition~. "bank" means a bank registered under the Financial Institutions Act; Cap. 314A. "document" means a report, return or other document required to be sent to the Registrar pursuant to the Act or these Regulations; "fonn" means a form as set out in the First Schedule; rir,t Schedule "tenn" means a period not excl.':eding 3 years.

3. The forms set out in the First Sd,~dult: urc to be used for tho Fu1111 pwposes of the Act and these Regulations. required fir~t Scf);;duk

4. The foes to be paid under the Act and these Regulations are lhuse fi:u:tl iu the SeumdSchedule. s~=nd Scheduk.

5. (l) Where an item required to be disclosed in a document does Filling out not apply, the person preparing the documents shall indicate that fact by of placing the phrase "not appJicable" or the aOOrev1atwn "N/A" m the space provided in the document. (2) Where (a) any provision required to be set out in a document is too long to be set out in the space provided in the document; or 4 STAlVTURY INSTRUMENT (b) an agreement or other document is to be incorporated by reference and to be part of the document, the person preparing the document may incorporate the provision, agreement or other document. (3) A provision, agreement or other document referred to in paragraph (2) may be incorporated by (a) setting out the phrase "The annexed schedule (number) is incorporated in this funn" in the space provided on the document; and (b) annexing the provision, agreement or other document to the document (4) A separate annex is required with respect to each item that is incorporated by reference in a document pursuant to paragraphs (2) and(3). Oh·idcmd 6. For the purposes of sections 4(e) and 34(1)(c) of the Act, a rate. society may pay such dividends on its shares as it think~ fit. Transfer of 7. (1) Special fotrns for the transfer of shares shall be provided ~hares. by the Registrar. (2) No transfer of a share shall be registered if made by a member who is indebted to the society without the approval of the board, and until the transfer of a share is registered, no right shall be acquired against the society by the transferee nor shall any claim of the society upon the transferor be affected thereby. Minimum 8. Subject to regulation 20, [or the purposes of section 77 of the am,;,,mt ,.r Act, th1; minimum amount ofa ~curity or fidelity bond is hood. (a) in the case of a society with sales. or revenue not exceeding $25 000 per year, $1 000; (b) in the case of a society with sales or revenues greater than $25 000 but not exceeding $100 000 per year, $2 000; and STATUTORY INSTRUMENT 5 (c~ in the case of a society with sales or revenues greater than $100 000 per ycai, $5 000.

9. (I) Where a person appeals the tennination of his membership rrocedures to the Registrar pursuant to section I 05 of the Act. that person shall submit on appeal uf w11uiuiv a written statement to the Registrar within 30 days of the date of lion of menilier- ship. (a) the members' resolution tenninating the person's membership punsuanl 10 :st:i.;liun 103 of lhcAcl; ur (b) the members' confirmation of the directors' ordertenninating the person's membership pursuant to section I02(2) of the Act. (2) A person appealing the tennination of his membership shall state in his written statement required pursuant to paragraph (I) (a) any reasons for the termination of his membership of which he has personal knowledge; (h) the grounds on which his appeal lies; and ( c) any relevant facts or information, in addition to those described in sub~paragraphs (a) and (b), that the Registrar may require. (3) The Registrar shall hear an appeal pursuant to section 105 of the Act within 30 days after the date that he receives a completed written stalcment pursuant to paragraph (I) and inform the appellant, in writing, wilhin 14 days after hearing the appeal of the outcome thereof. 1o. (I) The comparative financial statements required pursuant to Annu~I finatldal section 109 of the Act must include statements. ( a) a balance sheet; (b) a statement of income; 6 S1A1'UJOKJ' JNSJKUMENJ (c) a statement of retained earnings; and ( d) a statement of changes in financial position. (2) Financial statements need not be designated by the names set out in sub-paragraphs (a) to (d) of paragraph (I). Audi1or's 11. Forthepurposesofscction 123 ofthe Act, d1e auditorofa society report. shall in.-iicntF in his report whe.the.r or not the. fimmciHI state:mPnts r,ontained in his report (a) were prepared in accordance with generally accepted accounting principles; and (h) are presented on a basis consistent with that of the preceding year, Standard o! 12. The financial statements referred to in section 109 of the Act fiMncial and the auditor's report referred to in section 123 of the Act must, except statement ""J us otherwise provided by these Regulations, be prepared in accordance aul.!irnr's report. with standards approved by the Institute of Chartered Accountants of Barbados. Eltctiun of 13. (l) Thtsregulationappliesfor thepwposesofsection:53(2)of directors. the Act. (2) Before accepting the nomination of a person. the chairman of the meeting called lo elect directors shall satisfy himself that the person to be nominated (a) is qualified pursuant to the Act and th.:i by laws of tho society to be a director; and (b) has consented to the nomination. (3) Where the number of candidates nominated does not exceed the number of directors to be elected, lhe chairman of the meeting called to elect directors shall declare all the candidates elected. STATUTORY INSTRUMENT 7 (4) Subject to paragraph (7), only one ballot is to be taken and the number ofcandidates: e,w~I to the number ofdirectors to be elected receiving the highest number of votes are to be declared elected. (5) Where candidates are to be elected for varying terms, the candidates receiving the highest number of votes cast are to be declared elected for the longest or the longer terms, as the case may be. (6) Where 2 or more candidates receive an equal number of votes, the members prescnl at the meeting may by resolution provide that a second ballot be cast to break the tie. (7) Whvn; thv meeting docs not dcddc to hold a svcuw.J Uallul pursuant to paragraph (6), the chairman of the meeting called to elect directors shall draw lots, and the candidate whose lot is drawn is to be declared elected, (8) Where a member votes for more than the number ofdirectors to be elected on his ballot, his ballot is not to be counted. (9) Where a registered society submits a by-law to the Registrar that provides for a method of electing directors other than at a general meeting ofmembers, and the Registrar is satisfied that the by-law does not contravene paragraph (4 ), (5), (6), (7) or (8), the Registrar may approve the by-law and, on and after the date of that approval, the directors of the society shall be elected in the manner provided in the by-law. (I 0) No society shall include in any by-law governing the manner of electing its directors, any provision that prohibits its members from nominating as a candidate for election as director, any member who (a) is qualified to be a director; and (b} consents to the nomination. (11) The board of a society shall comprise not less than 3 members and not more than 15. 8 STATUTORY INSTRUMENT Meetings of 14. The directors of a society shall hold at least one meeting every director~, month. Appoint• 15. (1) For the purposes of section 76 of the Act, the board of a meot of secretary society shall appoint a secretary and a treasurer and unless the secretary and the treasurer so appomted are members ot the board, the '"' treasurer. board shall have the power to fix the remuneration for their service. (2) The board shall within 7 days of making an appointment referred to in paragraph(!), notify the Registrar of the appointment. (3) Subject to paragraph (4), a secretary or treasurer shall not hold offo;t: fo1 mort: lhan 3 cuu~t:cutive yean;. (4) Paragraph 3 shall not apply to the current term of office of a person who is holding the office of Secretary or Treasurer on the date of the commencement ofthese Regulations. Duties of 16, (1) The secretary ofa society shall secretarv '"' treasurer (a) attend all meetings of the society and the board; (b) keep the minutes of any meeting of the society or board; {c) deal with any correspondence on behalf of the society; (d) keep charge of all records, books, papers and other documents of the society; (e) issuenolices for all meetingsofthe board and general membership of the society in accordance with these Kegulattons and the by~ laws; (!) sign and execute. jointly with the president. all deeds and conveyances of real or personal property and such other documents as the board may specify; and STA1'UTOKY INSTRUMENT 9 (g) perform such other duties as are prescribed by the by-laws or authorised by the board. (2) TI1e treasurer ofthe sodety shaJl be responsible for (a) receiving all moneys due and payable to the society and issuing receipts for those moneys; (h) d~positing ~II moneys received in the name of the society in such bank or depository as specified by the board; (c} all documents relating to the finances of the society; (d) recording all l.ransactions effected by the society in the books provided for the purpose: (e) keeping charge of all documents, books and vouchers for all payments made and receipts issued on behalf of the society: (I) p«.,-pari:ng tht annual :statement ofacoowtl., ualaru.:c t)'.hool., 111uuthly financial statements and other statements as the board may request; (g} keeping separate all moneys belonging to the society: (h) producing a currenl statement of the society's moneys on demand;and (i) making payments as authorised by the board and obtaining receipts for those payments,

17. For the purposes of section 212 of the Act and subject to the Sup~rvisory t\ct and by~laws, the supervisory committee ofa society shall cnrnmltlcc. (a) appraise the policies and operating procedures of the society and make recommendations to the board and to the credit committee; IO STATUTORY INSTRUMENT (b) attest to the monthly returns filed in compliance with section 127(2) of the Act; (c) receive and investigate any complainls made by members of the society about the management of the society; (d) monitor the management of the society; (e,) ensure that the society complies with the provisions of the Act. these Regulations and the by-laws; and (/) verify the assets of the society and monitor whether the assets urc properly prutectt;Jd. Unclaime<l 18. (_l) Where the amount held to the credit of a person whose amounts. membership has been terminated is unclaimed and the amotmt (a) is less than $10, the society may add that amount to its income from operations; or (b) is$ IO or more, the sociely shall, subject to sub-paragraph (3), place that amount in a special reserve fund until it is claimed, (2) A society shall as soon as is practicable, notit)' a person whose membership has been terminated, of any sum held to the credit of that person. (3) After lheexpiration of a period of 10 years1 the society may add the amount referred to in paragraph ( 1)(b) to its income from operations. (4) Where atter a period of l U years a member has nol transacted any business with a society and there are unclaimed funds in respect ofthat member's shares and deposits or other interests, the society shall (a) publish in lhe Ofjlcial Gazette and iu a daily newspaper which is published and circulated in Barbados, a notice containing STATUTORl' INSTRUMENT 11 (i) the name of the member; (ii) the particulars concerning the unclaimed funds; and (iii) a statement requiring the member or beneficial owner of the film.ls 10 submit a claim to thal sm:ieLy within 90 days of the publication of the notice; and (h) mail a copy of the notice referred to in paragraph (a) to the member at his last known address,

19. For the purposes of section 226, a housing society must provide By-law~ of linnsing iu ib l,y-law/> thal oociety. (a) the society shall give a copy of lhe by~laws and the occupancy agreement to every member; (b) each membe,· is entitled 1,, have quiet enjoyment of his housing Wlit; (c) either the society or the member is responsible for (i) the maintenance of the housing unit in a safe, habitable and reasonable state ot repair; (ii) the repair or replacement of fixtures: and (iii) any damage tu the housing unit; (d) the society and its agents, except in the case of an emergency, arc requirud lo give re;.umnubk no~h:t: w ~ht: ,m:mber prior lo entry of the member's unit; (e) the society shall give 3 months' notice ofany increase in housing charges except where 12 STATUTORY INSTRUMENT (i) the Registrar gives his approval for a shorter notice; or (ii) the members have unanimously approved the increase at a general meeting; (I) the society shall give a mm1mum of 30 days' notice to a member of the termination of his membership, except where a member contravenes any by-laws governing (i) ordinary cleanliness of the housing unil after having received written notice of the contravention; (li) lhc l.llit; oftht: prcmisc:s fur pruhibi~ll purposes; or (iii) payment of housing charges; and (g) there is to be no acceleration of housing charges. Amount of 20. For the purposes of section 77 of the Act, the amount of ~:11t ~~ion. security or fidelity bond required in respect of a credit union is $50000. Liquidity. 21. (1) Forthepurposesofthisregulation, (a) "liabilities" include shares ofmembersothertlianqualifying shares, any deposits of money made in the credit union, any accrued interest on those shares and deposits and any loans taken out by Lite credit union; (b) "line ofcredit" means the maximwn amount which a credit union 1s ent1Ued to bon·ow at any given tune; (c) "liquid assets" include Barbados currency and deposits of Barbados currency made by a credit union with a bank or any other institution that takes deposits, and that the credit union is entitled to withdraw on demand as readily marketable securities; STATUTORY INSTRUMENT 13 (d) "marketable securities" include treasury bills, government debentures, trca:!lwy note:!! and olher secmitics listed on the securities exchange of Barbados; (e) "secondary society" means a registered society which comprises mainly primary societies; and 11 (j) tertiary society" means a registered society all of whose members are secondary societies_ (2) A credit union shaJI at all times (a) have in its po.srscs~ion liquid a:sscts; (h) maintain a line ofcredit: or (c) do both ofthe things mentioned in sub-paragraphs (a) and (b), in an amount sufficient to enable the society to meet its nonnal cash flow requirements as estimated by the society. (3) A credit union shall at all times in accordance with paragraph (4 ), maintain an account (a) with a b;;mk; (b) with a loan company or trust company incorporated under the Companies Act; or Cup. 308. (c) with a secondary society or a tertiary society whose by~laws provide for the acceptance of deposits, if the deposits can be repaid on demand, (4) The account mentioned in paragraph (3) shall be (a) in such amount as may be specified in the guidelines; (h) in the fonn ofdemand deposits or deposits redeemable on the notice of the society. 14 SlATUTIJRY INSTRUMENT (5) A credit union shall maintain the account described in purngraph (3) scpurntc nnd upnrt from nny other accounts or funds. Loan 22. (1) An application for a loan must be made on a form :.ipproval. provided by the society and must state (a) the purpose for which the loan is required; (h) the security, ;fony, offorcd; nnd (c) any other information the credit committee or loans officer requires. (2) The approval of a loan application shall be in writing and the credit committee or loans officer approving the loan shall ensure that the application ttnd approval 3pccify with respect to the loan (a) the amo11nt approved; (b) the terms of payment; (c) the raLeofinteresl; (d) any security to be held by the credit union; ( e) any guarantees to be taken; (f) any conditions that may be specified by the credit committee or the person approving the loan in addition to those mentioned in :sub-parugraphii (a) to (e); and (g) the date of the approval, (3) A loan granted by a credit union shall be evidenced by a signed loan agreement between the credit union and the applicant. STATUTORY INSTRUMENT /.1 (4) No memberofacredit committee, the board or the super-visory c:-ommittel:' of a soei~ty or i.::1ny other person who has been authorised to approve loans, shall be present at the discussion ofthe approval ofa loan or approve a loan to himself or any person with whom he has a fiduciary relationship. (5) Where a member of a credit union desires a loan in excess of the sum standing to his credit, he shall indicate his financial standing wh<'n subtnitting the- application for a loan reforred to in paragmph (I), (6) Where a person intentionally misrepresents his financial standing in order to obtain a loan from a credit Wlion, that person is guilty of an offence and is liable on conviction by a court of swnmary jurisdiction to a fine of $2 000,

23. ( 1) No officer, director, credit committee member, supervisory Bom1wing by dire.wt committee member, or employee ofa society may borrow from the society et,, an amCJunt in ex.cess of his holdings lherein in shares, deposits and accumulated earnings unless approved by the vote of two~thirds of the other members of the board, credit committee and supervisory committee sitting together: (2) A meeting referred to in paragraph (I) is not properly constituted unless a quorum of the members of the credit committee is present. (3) No registered society shall lend to any member an amount exceeding ( a) 10 per cent of the agsregate of the registered society's capital; (b) the members' ordinary deposits and reserves; or (() such lesser percentage as is specified in the by~laws. 16 STATUTORY INSTRUMENT ':iC(arrity for 24. The board, shall by resolution establish a policy with respect to loans. (a) the security required for approved loans; and (b) the manner in which the fair market value of any real property obtamed as a security tor a loan ts to be calculated. Maximum 25. For the purposes of section 202( 1_) of the Act, interest on loans period for may be paid at intervals not exceeding one month. inu:n;~l "" loan~, Doubtful 26. ( 1) When a credit union identifies a loan as a doubtful loan, JoaM the credit union shall immediately allow for the doubtful loan by allowance. (a) establishing on its hooks and accounts an allowance for the doubtful loan in accordance with the guidelines; (h) reporting on any income statement it prepares, including its annual income statement required pursuant to regulation 10, as a loss from income, an amount as an allowance for doubtful loans equal to the sum of allowances for all doubtful loans established in accordance with sub-paragraph (a); and (c) reporting on any balance sheet it prepares, including its annual bal:mr~ '>-het>:t (i) the value, as an asset of 1ts doubtful loans in an amount equal to the vah.1e of all of the doubtful loans as stated on ih Wuks and ai,,;counts lcrss the a.llowan,;1; for the <lO\tbtful loan established in accordance with sub-paragraph (a)~ and (ii) in accordance with the guidelines, any property or other assets acquired in the financial year pursuant to a foreclosure or other realisation proceedings in relation to a loan that was a doubtful loan. STATUTORY INSTRUMENT /7 (2) A credit union shall report to the Registrar at the end of each financial year, (a) the number and amount of doubtful loans for which an allowance is required ta be made in accordance with the guidelines in that financial year: and (b) the value of property andothe< assets recovered. in thal financial year in respect ofdoubtful loans. (3) The board of directors of a credit union shall cause a 1istof all doubtful loans to be available at the registered office of the credit union for any ~,11,uminatiuu rl;)tjuin::tl lJy I.ht: cn:dil t:m11111iUt:t:, :,up1;:rvbu1 y i.:onuuiU1;:t: and the auditor Qf the credit union~ and the board shall send a copy ofthat list to the Registrar. (4) The list mentioned in paragraph (2) includes, with respect to each doubtful loan (aJ the name of the borrower: (b) the amount of the loan; and ((:) the Q.mount of any allownncc required to be wade under the guidelines. (5) Where a credit union detennines that the allowance for doubtful loans required by paragraph (l) will result ma net loss on its incorne statement for the financial year, it shall immediately notify the Registrar in writing of that fact (6) For the pUipOses of these Regulations, (a) 11 doubtful loans 11 means any outstanding loan in arrears for a period exceeding 3 mcmths; (b) "guidelines" means the guidelines made under section l 92D of the Act. 18 STATUTORY INSTRUMENT Use of 27. (I) Subject to the approval of the Registrar, a society may use its reserves. reserves for the following purposes (a) to make good, deficiencies created by its operations; and (b) to charge off losses on its investments. (2) When the Registrar receives a request for approval pursuant to purngraph (I) he urny 1c~llit.:l tltc putpuM.::~ fut whid1 I.he ~udcty may UM:: its reserves. Credit 28. (1) For the purposes of section 206 of the Act and subject to <:omm1ttee, the Acl and the by-laws, the credit committee of a credit union shall ( a) recommend to the board, policies and procedures to be followed by the credit union for approving and granting loans made by the credit union: (b) monitor, through reports from the credit union's auditor and other officer, of the credit union, Joun procedures uGed by the credit lmion; (c) consider all applications for loans, loan extensions and revisions ot the terms of loans that are referred to it by the board or an officer ofthe credit union; and (d) consider reports of officers of the credit union that are submitted to it pursuant to that section. (2) The credit committee ofa credit union shall keep a record with respect to each application for a loan or a renewal or extension of a loan considered by it, of (a) the name of the applicant: (b) the amount of the loan applied for or the change in the tenns or condilions applied for; and STATUTORY INSTRUMENT 19 (c) whether the application was approved1 declined or deferred.

29. (I) Por the purposes of sc~tiuu 202(2) ullhcAt.:l, mJ iutcn::st lntere9t on payments are to be included in the credit union's income where interest loans paymt.'tlt is with respect to a doubtful loan. (2) A credit union may include in its income a maximum of 3 months' accrued interest with respect to a loan.

30. (I) Subject to this regulation, the terms and conditions for the; Deposits. receipt of deposits by a registered society shall be set out in the bywlaws of the society. (2) No credit union 3hall estublish and operate, without the approval of the Registrar, deposit accounts that permit funds in the account to be withdrav.rn or transferred by the depositor by means of ( a) a cheque; (b) another bill of exchange; or (c) any other negotiable instrument, thal allows the holder of the negotiable instrument to have payment on demrmd made to him from funds in the depo!'lit. (3) No credit union shall, without the approval of the Registrar, accept funds on deposits for a term that is stipulated in any agreement lief wct:11 t11u 1,,1u<liL m1im1 ,m<l die Jupu.siwr tu be lunger than 5 yuars, (4) Where a credit union accepts deposits for a term that is stipulated in an agreement between the credit union and a depositor, the credit union shall provide a receipt to the depositor showing (a) the terms and condilions pursuant to which the funds are deposited by the depositor and accepted by the credit union; (b) the date on which the deposit matures; 20 STATUTORY INSTRUMENT (c) the rate of interest to be paid by the credit union on funds deposited; (d) the time when interest is to be paid by the credit union; and (,;,) l'lny conditions that the board mis stipulated for withdrawal of funds by the depositor prior to the date the deposit matures. (5) Where a person has deposited funds in an account with the credit union, that person is entitled to rcccin:, am.l ilu:; u1,;<lil uuiuu t'.>ball provide, a statement showing the transactions conducted by that person involving the person's accounl, the balance offunds in the account and any other information that the credit union considers important. (6) The board may detennine the form in which the statements required pursuant to paragraph (5) are given. Maximum 31. (1) Every society shall from time to time fix at a general loan liability. meeting the maximum liability the society may incur in loans. (2) The maximum fixed by purogrnph (l)is subject to the approval of the Registrar. (3) No society shall exceed the max.imwnapproved by the Registrar pursuant to paragraph (2 ). (4) The Regihtrar may, at any time, review the maximum approved pursuant to para,u-aph (2) and vary that maximum bv notice in writing. Minimum 32. Forthepurposesofsection lO{l)(a)(v)oftheAct, the minimum value of value of qualifying shares that must be held by a metnber of a society is shares. $50. flank 33. (1) The directors of a society may, for the purposes of the account business ofthe society, open and maintain such accowits at any bank that lhc tlin::<.:ton, 1;1,mtSitlt;r lo be ntX:c:5::mry. STATUTORY INSTRUMENT 21 (2) Cheques drawn on an account mentioned in paragraph {I) shall be signed by any two of the following persons: (a) a director; (b_) the treasurer; (c) the chief executive otlicer, by whatever name called; ( d) chief finance officer, by whatever name called. (3) Notwithstanding paragraph (2), the board may authorise a senior employee to sign cheques. (4) Where a senior employee is authorised to sign cheques under paragraph (3 )) the cheques must also be signed by one of the persons mentioned in paragraph (2). (5) Where a senior employee is authorised by the boal'd to sign cheques under paragraph (3), the board must notify the Registrar within 2 weeks of the grant of the authorisation.

34. (I) In this regulation. "branch" means any office of a credit union where the credit union proposes to carry on business, including JJrnn<:h<:a. accepting deJX)sits and subject to regulation 30, operatingachequing service, separate and apart from its head office. (2) No credit union shall open a branch without having first obtained the Registrar's approval in writing,

35. The Co operatiwJ Sooiotim; Regulations, 1993 are revoked. Revocation. S.L !993-25. 22 ST.4TUTORY INSTRUMENT FIRST SCHEDULE FORM A Cu~operative Societies Art Cap. 378A APPLICATION FOR REGISTRATION (The particulars of this form must be completed in CAPITAL LETTERS) To: The RegistrarofCo-opcrativc Societies L Application for registration of the undermentioned society under the Co-operative Societies Act, Cap. 378A is hereby made by the persons whose names and signamres appear hereunder:

2. The name of the society is:

3. The registered address of the society is;

4. The area of operation of the sodety is:

5. The objects of the society are as stated in the bv~laws:

6. The membership fee is:

7. The financial year will tenninate on the davof in each vear:

8. The liability of the members for the debts oflhe society is limited/unlimited.

9. The society was established on the day of , 20 and at the date of this application there are members in the society.

10. Enclosed herewith are 3 copies of the proposed by~laws of the society.

11. The amount of $ is enclosed, being the fee for registration. STATUTORY INSTRUMENT 23 FIRST SCHEDULE-Cont'd

12. Partin1lars relating to the applicants are as follows; FULL NAME DATEOF OCC!Jl'ATION AODRESS SlGNATIJRE BIRTH

13. The following persons have been appointed and have consented to act as provisional directors: FULL NAME DATE.OF OCCUPATION ADDRESS SIGNATURE BIRm

14. The full name and address of the Secretary are as follows: Dated this day of 20 Secretary FORMB (Regulatwn 3) Co-operative Societies Act Cap. 378A CERTIHCATE o•· REGL',TRATION Certified that the applicalion dated made by to be registered under section 6 of the Co-operative Societies Act, Cap. 378A as the has been accepted and that the said Society has been r..:gistcrcd accordingly as No. subject to the provisions of the said Act and the Regulations made thereunder. Dated this day of ,20 Registrar of C1)-opcrativc ::iocicfles 24 STIITl/TORY INSTRC!MENl' FIRST SCHEDULE - Conl'd FORMC (Regulation 3) Co-operative Societies Act Cap. 378A CERflFlCATE OF C11ANGE OF NAME Certified that pursuant to a directive given by the Registrar on the day of , 20 under section 17 of the Cu-operative Societies Act, Cap. 378A has amended its By-laws and will henceforth be known as and that the said amendments have been duly registered. Dated this day of , 20 Registrar of Co-()perative Societies FORM D (Regulation 3) Co-operative Societies Act Cap. 378A CERTIFICATE OF CHANGE OF NAME rfo/uruury Ch,mxi: u/Nume) Certified that by a resolution passed in accordance wilh <\lf'dicm JOA of the C11-npPN1rivP SnriPliP~ Ad. r.ap.17RA hirnamf'nrlf'<ii1<1.Hy-faw'l.ami will henceforth be known as and that the said amendments have been duly registered. Dated thi.,_ day of , 20 Registrar of Co--operative Societies STATUTORY INSTRUMENT 25 FIRST SCHEDULE - Cont'd FORME (Regulation 3) Co~u11ur-ulive Svcleti1;w Act Cap. 378A NOTICE OF CHANGE OF DIRECTORS Name of Society: Registration No: Un the day ot , 20 , the loll owing persons ceased to be directors of the above-named society: FULLNAME OATEOF' ADDRESS OCCUPATION BIRTII On the day of , 20 , the following persons became directors ofthe society: FULLNAME DATEOF ADDRESS OCCUPATION SIGNATURE BIRTH The directors of the society arc: FULLNAME OATEOF ADDRESS OCCUPATION SIGNATURE Hll{IH I certify thut the nhoY.: infonnntion i:. correct. Signu1ure Date Q[!ice 26 S1A1V1VKY INS1KUMl!:NJ Fll{ST SCHEDUU: - Cont'd FORM F (Regulation 3) Co-operative Sacfoties Act Cap. 378A CERrn,cATE OF DISSOLUTION Registralion No: herf'hy crrtify th:it thP :1h,wP-n<.1n,e,rl Snc-i,•ty w~~ thi~ d:1y dhrnolved p~inmant to s,;:ction of the Ca-operative Societies Act, Cap. 378A. Given under my hand this day of , 20 Registrar of Co-operative Societies FORMG (Regulation 3) Co-operative Societies Act Cap. 378A CERTIFTCATE OF REVIVAL Name of Society: Registration No: I hereby certify that the above-named Society ha8 heen revived pursuant to section of the Co-operative Societies Act, Cap, 378A. Given under my hand this day of '20 Registrar of Co-operative Societies ST4TUTORY INSTRUMENT 27 FIRST SCHEDULE - Cont'd FORMH (Regulation 3) Co-operative Societies Act Cap. 37f/A CERTIFICATE OF CONTINUANCE NameofSodcty: Registration No: I hereby certify lhat the abovtH1amed Sodety, is this day continued as a registered society pursuant to section 241 of the Co-operative Societies Act, Cap. 378A. Given under my hand this day of , 20 Registrar of Co-operative Societies 28 ST.4TVTORY INSTRUMENT FIRST SCHEDULE - Cont'd FORM I (Regulation 3) Co.operative Soeieties Act Cap. 378A ELECTORAL RETURNS NAME OF SOCIETY, UAI E UF ELECTIUNS: CHAIRMAN OF ELECTIONS, (a) Where the number of candidates nominated does not exceed the number to be elected, the Chairman shaJI declare alt the candidates elected. (b) Where the officers are being elected for varying terms, the lengths or such tcnns may be detefmined by ballot ur by drawing lolS. (c) Where lots are drawn, the numbers should be shown in the column provided. (d) Where more than one ballot is cast to elect an omcer, the resul1 of each ballot should be shown separately and a supplementary Hst attached, if necessary, (e) If there is an equality of votes and a candidate dedines from participating in a run-off, this should be indicated. SulTUTORl' INSTRUMENT 29 FJRST SCHEl>ULE - Cont'd BOARD OF DIRECTORS NAMEOF NOMlNEE VOTES I.OT ORAWN TERM OF OFFif"F RECEIVED 30 S'l:4TUTORY INSTRUMENT FIRST SCHEDULE - Cont'd CREDIT COMMITTEE NAMFOF NOMINFF VOTES lflTflRAWN TTRM OFOFFTrF RECEIVED ~ ._,_ ~ - --- f---- - ---- -- - - - STATUTORY INSTRUMENT 31 FIRST SCHEOVLE - Crml'd SUPERVISORY COMMITTEE NAMEOF NOMINEE VOTES LOT DRAWN TERM OF OFFICE RF.CE!VED I certify that the above information is correct: 32 STATUTORY JNS1'RUMl!:NT

FIRST SCHEDULE -Cont'd FORMJ (Regulation 3) Co-operative Societies Act Cap. 378A NOTICE OF CHANGE OF COMMITTEES NameofSodety: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ Reu.istration No.: On t h e - - - - - day of _ _ _ _ _ _ _ _ , 2Q _ _ _ _ the following persons ceased to be supervisors of the above~mentioned society: FULLNAME, - - - - - - - - - - - - - - - - - - - - With efli::ct from the - - - - day of ,:W the following persons comprise the supervisory committe POSffiON FULLNAME ADDRESS SIGNATURE L Chaimwu 2 Secretary - - --- 3. Members STAT/ITnRY TNSTRTIMRNT FIRST SCllEDULE -Concl'd On the_ ___ dayof _ ---- ---- ,20 - - - , the following persons ceased to be members of tOe credit cornmittec of the <1bove~mentiooed society: FULL NA:f,.,1E: With effect from the - - dayof _ _ __,20 the following persons comprise the credit committee: POSITION FULL NAME ADDRESS SIGNATURE I. Chairman 2 Sl!cretary 3. Mcmbcrt> I i;1;1r1iry that Lhc ,1buvc iufurnmtiu11 i~ i:ouci.;t, Signature Office Date 31 ST.JTUTORY INSTRUMENT SECOND SL1IEDULE (Regulation 4) Item Fee $ L For application for r<;gistration for any registered sociely, other than a Junior Co-operative Society 50.00 2. For a certificate of registration: (a) for a credit union ... 500.00 (b) for any other registered society, other than a Junior Co-operative Society 200JMJ 3. Forno$1':rvation ofmuoo 50.00 4. Forchangcofname 100.00 5. For search ...... 25.00 6. For restoring: name to register: (a) Credit Union 300.00 (b) Other Co-operative Soclety 125.00 7. For the filing of the annual and special returns: (a) on the day that it is due no foe (b) for each day after the date that it is due to be filed, a special filing foe as follows: (i_) rre,lit I Jninn 10.00 (ii) OtherC~opemtivoSo,iety 5.00 to the following maximum: (A) Credit Union ... 400.00 (B) Other Co-operative Society 200.00 STATUTORY INSTRU~IENT ]5

SECOND SCHEDULE - Cont'd & For a certificate of continuance ... 50.00 9. For a certificate of amendment of by~laws ... 50.00 10. Fora certificate of revival 75.00 11. For a certificate of dissolution 50.00 IL For an examination of any document l.5J(J 13. For photocopies of any document; (a) fo, the fir.st page ... 3.00 (b) for each additional page 1.00 VI. For certiti..:ation of any documf<lnt: (a) for the first page ... 5.00 (h) for each additional pafle '.?.00 15. For a notice that is required to be published in the Gazette The cost of of placing the notice in the Gazette 16. For any certificate other than a certificate of dissolution or certificate for which a fee is not provided ... 50.00 17. Filing any document unrelated to anything for which a fee is not provided 25.00 NOTE: Tht: fbes (olh1:1 than tl1ust: n:fi:rred lo in paragraphs I and 2) payable in respCl(;I of a Junior Co-operative Society shall be 20 per cent of the fees payable by a registered society, other than a credit union. Made by the Minister this 9th day of January, 2008. LYNETTE E. EASTMOND Minister responsible for Co-operatives.