Amendment to the Law on Farmers Cooperative Societies No. 43 of 1977 (No. 29 of 1996)

LAWS Law No. (29) of 1996 Amendment to the Law of Co-operative Far- mers Associations No. (43) of 1977 Arti.cle - 1 - The text of Para. (D) of Item (Firstly) of Article (17) of the Law of Cooperative Farmers Association No. (43) of 1977 shall be abrogated and substituted by the following: (D) - Any interests shall not be distributed for minimum of the compulsory shares, and it may be possible to distribute an in- terest on the members for the additional shares of which its values have been paid as equal to the interest which is given by the commercial banks on the account of saving. The Official Gazette No. (18) 2 30-4-1997 -_._------------------------------ LAWS -~.~--~_ •. ~------~-----------~--~-----.------- Article - 2 - The text of Article (24) of the Law-shall be cancelled and replaced by the following: Article- 24 - The association should deposit its assets in the governmental banks or its branches in the Governorates with the excep-: tion of the sums of which the instructions sti-. pulate on the possibility of keeping them in the Association's Fund. Article - 3 - This Law shall come into force from the date of its publication in the Official Gaze- tte. Made at Baghdad this 29th. day of Rajab, 141'7 Hijria, and the 10th. Day of December, 1\:)96 A.D. Saddam Hussain President of the Republic (Published in the Alwaqai Aliraqiya (Ar. Edit.,) No. 3649 of 23-12-1996). 3 30-4-1997 -----~~._-------------------------