SMW Decision No. 7 issuing the Implementing Regulation of Law No. 23 of 1991 on fisheries cooperatives

SMW DECISION NO. 7 OF 1992 CONCERNING ISSUE OF IMPLEMENTATION RULES OF LAW 23 OF 1991 Section l Co-operative Establithment and Required Document Anounccmenl Item 1 .iinimum 20 members required • all should be fully engaged in fishing and all should own a licensed boat._ Iteml >-Op announcement application procedures • copies of charter and intcroal organiz.ation documents signed by members • bank lepOsit receipts for members' shares • list of all members and number of shares held • proof all members participate in ishers na/du,ba (associations)• signed declaration that no membership other fishing co-op• copy of boat ownership certificate. Item 3 -4 ;oncemcd with reviewing and processing the above mentioned documents in different SMW departments • acceptance or -fusal of application. Items ~o-op charter document contents • date, place of issue • name of co-op, purpose and area of work • capital and share value • ~me of each member, place of residence and occupation. Item 6-8 ~oncems re-announcement of"co--Op1; established before Law 23/91. Section 2 Membership Conditions and Reasons for Withdrawal Item 9 ,nditions for men1bershlp in fishing co-op • carry Libyan nationality • written accepl.unce of U1e co-op organization and shnrc ymenl BlTilllleme.nts • active in fishing as 'main job' • resident in same area ofco-op operations• acceptance by general ssembly of co-op • no membership other fishlng co-op • membership in local fishing nald1aba. Item 10-14 ·cwnstances for withdrawal of membership • voluntazy • failure to abide by conditions • arrangements for reimbursement if ligible • etc. SectionJ Co-operative Administration Committee Item 15-25 mcral assembly meetings • duties and obligations • selection of committee • internal organisation • adminstrative procedures tc. Section 4 Co-operative Financial Organization Item 26-29 tablishes share value at 10 LD per share • limit on share ownership any one member not more than 20% total shares at time rannounccment • accounting procedures, bookkeeping• insurance against theft. dishonesty, fire, other. Sections Co-operative Closure pecifies conditions Wlder which co-operatives can be closed through expiry of charter, merger with another co-operative, or 1rough SMW order.