212 co-operative societies facing cancellation

The Ministry of Labour, Human Services and Social Security has published a list of 212 co-operative societies which it says faces cancellation effective May 18, 2014 because of non-compliance with two key acts.

In a notice in the last Sunday Stabroek under the name of Chief Co-operative Development Officer, Carol Valz, the Ministry  said that cancellation would be as a result of failure to comply with Sections 38 and 39 of the Cooperative Societies Act, Chapter 88:01 and Section 23 (1) of the Anti-Money Laundering and Countering the Financing of Terrorism Act. The latter relates to sanctions by supervisory authorities under the Act.

The notice said that the cancellation will be effective from May 18, 2014 and subject to any successful appeal to the Minister of Labour. The notice added that with effect from the date of cancellation no one would be authorized to transact any business on behalf of the societies unless ordered to do so by the Chief Co-operative Development Officer via public notice.

Those to be cancelled include the Greater Georgetown Fishermen Co-operative Society, the Guyana National Service Staff Co-operative Credit Union Limited, the Guyana Police Force Consumers Co-operative Society Limited,  the Guyana Prison Officers Consumers Co-operative, the Guyana Teachers Co-operative Credit Union,  the Mayor and City Council Workers Co-operative Credit Union, Moblissa Dairy Farmers Co-operative Society Limited, Beacon Ministries Co-operative Credit Union League,  Eastville Housing Co-operative Society Limited, Seafield Co-operative Land Society Limited  and the Upper Corentyne Fishermen Co-operative Society Limited.

 

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