Checklist of conditions for registration and continuance of non-financial co-operatives societies

(Reference: PART II Section 15 of the Co-operatives Societies Act No. 8 of 2011)

• Active members not less than 10 persons
• Market Viability: adequate demand for proposed service
• Adequate Capital Base for providing desired/competitive services
• Good potential for future membership growth
• Pricing policies and adequate structure 
• Viability Assessment Favourable
• Membership aware of and in conformity with the Co-operative principles
• "Co-operative" and where applicable, forms part of the name or proposed name, where society is seeking registration with limited liability
• Proposed name: identical to or nearly resembles the name of another society
• A fixed address physically in place and identified, where notices and communications can be sent
• By-Laws in compliance with the Act
• Registered name inscribed on a conspicuous sign outside the registered office place of business, including date of registration
• Monthly Financial Statements prepared and submitted to the Division of Co-operatives in accordance with Section 147 of the Co-operative Societies Act No. 8 of 2011.
• Financial Audit for the year ended December 31, ………… completed and approved and subsequent Annual General Meeting completed by March 31st the following year.
• Willingness to develop and adopt a Board and Management Policy Manual in the following areas:
  • Mission Statements    
  • Member Services    
  • Budgeting        
  • Investments        
  • Membership Register
  • Personnel
  • Mobilization of common shares
  • Asset/Liability Management
  • Cash handling