The Council of the Malta Co-operative Federation has submitted its recommendations to the committee coordinating the consultation process for the changes to the Co-operative Societies Act, Cap 442.

The Federation’s document, dated 24th March 2014, is entitled “Recommendations on changes to the Maltese Legislation effecting Co-operative Societies 2014“. ย The various proposals ย in this comprehensive document are the result of mature and thorough discussion, research and ideas put forward by the Federation’s member societies, their representatives, the Council members, co-operators, and friends of the Federation.

Malta Co-operative Federation - Recommendations on changes to the Maltese Legislation effecting Co-operative Societies 2014

The main proposals raised in this document cover:

  • Fair funding, and the removal of discrimination and inequitable treatment between Co-operative Federations
  • The reduction of the minimum number of co-operative society members to three
  • Co-operative membership eligibility criteria
  • Good governance issues within the committees of management of co-operative societies
  • The elimination of restrictions for the facilitation of investment opportunities
  • Financial reporting.

The Federation has within the document tackled new concepts currently absent from the Act, mainly:

  • Converting the Co-operatives Board to an Authority
  • The facilitation of converting commercial partnerships into co-operatives and vice versa
  • Re-domiciliation of co-operative societies
  • Social audits
  • Credit unions
  • Social co-operative enterprises.

Other proposals to changes in other legislation covered in the document include:

  • Banking Act
  • Small Business Act
  • Income Tax Act.