UTTARAKHAND SELF RELIANT CO-OPERATIVES ACT, 2003

Statement of co-operative Identity [As adopted by the international Co- operative Alliance at Manchester on September 23. 1995] 1. Definition. - A co-operative is an autonomous association of person united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise. 2. Values. - Co-operative are based on the values of self-help, self-responsibility, democracy, equality, equity, and Solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibilities, and caring for others. 3. Principles. - The co-operative principles are guidelines by which co-operatives put their values into practices. 1st. Principle: Voluntary and open membership Co-operative are voluntary organization, open to all person able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political, or religious discrimination. 2nd. Principle: Democratic member control Co-operatives are democratic organizations controlled by their members, who actively participate in setting their policies and making decisions. Men and women actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to membership. In primary co-operatives members have equal voting rights (one member, one vote), and co-operatives at other levels are also organized in a democratic manner. 3rd. Principle: Member Economic Participation Members contribute to, and democratically control, the capital of their cooperative. At least part of that capital is usually the common property of the cooperative. Members usually receive limited compensation, if any, on capital subscribed to as a condition of membership. Members allocate surpluses for any of the following purposes: developing their co-operative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the co-operative; and supporting other activities approved by the membership. 4th. Principle: Autonomy and independence Co-operatives are autonomous, Self-help organizations controlled by their members. If they enter into agreements with other organization, including Governments, or raise capital from external source, they do so on terms that ensure democratic control by their members and maintain their co-operative autonomy. 5th. Principle: Education, Training and Information Co-operatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their co-operatives. They inform the general public - particularly young people and opinion leaders-about the nature and benefits of cooperation. 6th. Principle: Co-operation among co-operatives Co-operatives serve their members most effectively and strengthen the cooperative movement by working through local, national, regional, and international structures. 7th. Principle: Concern for Community Co-operatives work for the sustainable development of their communities through policies approved by their members.

Act number

Act 4 of 2003

Year

2003

Enacted on

21-05-2003

In force from

1 January 2003

Jurisdiction

Uttarakhand State Act

Subjects

Cooperatives And Societies

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Official source: India Code