The EALA has late this afternoon enacted the EAC Cooperative Societies Bill 2014 giving the cooperative fraternity and stakeholders, something to smile about.
The Bill sailed through the third reading after Members debated and made amendments to a number of clauses to reflect relevancy and consistency.
The object of the EAC Cooperative Societies Bill, 2014 is to provide a legal framework for Co-operative Societies in line with Article 128 of the Treaty for the Establishment of the EAC strengthening the role of private sector as an effective force for developing economies.
The Bill is divided into ten parts. Clause 3 of the Bill lays down objectives of Cooperative Societies which include: solving problems collectively, co-ordinating knowledge and skills and promoting self- reliance amongst Members.
The rest of the areas contained in the Bill deal with the formation, rights and duties of members and privileges. Other areas include the assets and liabilities, settlement of disputes and winding up/dissolution of Societies.
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Hon Dr. Nderakindo Kessy makes a point on the floor of the House.
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Hon Mike Kennedy Sebalu, the mover of the EAC Cooperative Societies Bill, 2014.
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