Legal Updates: KPDNKK to strengthen Cooperatives Act

KUALA LUMPUR, Feb 11 (Bernama) — The Ministry of Domestic Trade, Cooperatives and Consumerism (KPDNKK) plans to amend the Cooperatives Act 1993 to strengthen and streamline laws governing cooperatives.

Its minister Datuk Seri Hamzah Zainudin said the act was last amended in 2007.

“The proposal to amend the act is the outcome of the National Cooperative Consultative Council (MPKK) meeting on Nov 23,” he told the media after the Excellence Service Awards 2015 ceremony of the Malaysian Cooperatives Commission (SKM) here Thursday.

He was confident the amendments would make the local cooperatives sector more competitive like other sectors in the national transformation tide.

Hamzah said the SKM will conduct a study on the amendments for the act.

“SKM is the facilitator and advisor to start a cooperative, and is responsible for specific analysis for various sectors in assisting the government boost economic growth in the country,” he said.

At the ceremony, Hamzah also witnessed the launch of the book “Anthology of Cooperative Law Cases from 2012-2015, published by SKM.

The book was published to provide an understanding of cooperative laws and the application of these laws which are not limited to the Cooperatives Act 1993, Cooperative Regulations and Cooperative By-Laws.

Meanwhile, at the ceremony, 106 SKM personnel were recognised for their contributions and excellence in performing their duties as well as active participation in sports, social and community activities.

Source: Bernama

Published on: February 11th, 2016

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