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FAQs

 FAQs

Developments

01. What are the necessary documents for the Registration of Co-operative Societies?.

  1. Application for registration (For  the case of a primary society, a minimum of 10 members who have completed  shares should sign it and it is a security of registered society members society at least 3 societies should sign it.
  2. Two copies of the proposed by-law ( This by- law should have been accepted by the general body while the working committee should comprise at least two members between 18 years and 35 years.
  3. A certificate to the effect that the by -law is not contrary to the charter and the co-operative rules and registrations.
  4. Certified copies of minutes of the general meeting ( Copies of minutes should contain about the establishment of the society, acceptance of by-laws and reports of deciding the appointment of the board of officials)
  5. Feasibility Report.
  6. A certificate obtained from a qualified institute or a person confirming that the feasibility report reflects the feasibility of the society.
  7. Progress report of the society (Progress for more than 6 months up to the date of applying  for registration)
  8. A certificate to the effect that the members who started the society have paid their dues and that they are kept in safe custody.
  9. Information about the board of officials at the society (including the name, age, address of employment and educational qualifications).
  10. Attendance registrar of those who participated in the General Meetings of the society.
  11. Road map.
  12. Map showing the area of authority.
  13. Capital accounts up to the date of application for registration (To control the balance of accounts, schedules or the certificate of balance)
  14. Recommendation of the Co-operative Development officer.

02. What are the necessary documents for the Revision  of by-laws?

  1. Request of the society.
  2. Copy of the notice of conveying the meeting (The notice should indicate the conveying of the meeting of the relevant revision)
  3. Agenda of the general meeting.
  4. A certified copy of the general meeting by which the revision of by-laws was approved.
  5. Statement signed by the president of the society and secretary to the effect that the revision of by -laws was done legally in terms of the revision using No.33.
  6. A certificate obtained in accordance with usages to the effect that they were not contrary to revision of by-laws ordinance are usages.
  7. Two copies of the proposed revised by-laws.
  8. Registered  by-law of the society.
  9. Recommendation of the Co-operative Development officer regarding the activities of the society.

03. What are the necessary documents for the Approval for the purchase and disposal of property? (Movable and Immovable Property).

  1. Request of the society.
  2. A certified copy of the general assembly decision.
  3. A copy of the balance sheet subjected for auditing for the last time.
  4. Capital accounts lapsed for not more than three months.
  5. In the case of a purchase, a feasibility report and in the case of a sale, an assessment report.
  6. Assessment report (having sealed ,sent directly to the assistant commissioner)
  7. Recommendation of the Co-operative Development officer.

04. What are the qualifications should fulfill to grant the approval for loans & permanent drafts.

  1. Request of the society.
  2. Copy of the decision of the board of directors.
  3. Economic feasibility regarding investing the loan in projects.
  4. Copies of the annual plan and estimate planned to the obtain loans drafts.
  5. Working capital account not older than 3 months.
  6. Capital account in the final audited balance sheet is older than 6 months.
  7. The type of properties given to the bank as security to obtain loans /drafts and their present market value.
  8. Copy of the limit of outside loans approved by the general meeting.
  9. Recommendation of the Co-operative Development officer.

05. What are the documents should provide to get the approval for temporary draft?

  1. Request of the society.
  2. Copy of the decision of the board of directors /Committee.
  3. A report regarding the necessity to have a temporary draft and how to the settle the draft.
  4. Copy of the outside loan limit approved by the general meeting.
  5. Recommendation on the Co-operative Development officer.

06.What are the required documents for the  Approval for disclaimer?  (when the value exceeds Rs.1000.00)

  1. Request of the society.
  2. Certified copy of a report on decisions of general meeting / board of directors.
  3. A report to the effect that a reasonable attempt was made to recover the assets to be written off.
  4. Write off registers.
  5. Recommendation of the Co-operative Development  officer.

07. What are the documents should provide to get the approval for opening up of a Bank Account?

  1. Request of the society.
  2. Certified copies of meeting at which officers ware appointed.
  3. Mandate.
  4. Copy of the decision of the board of directors / Committee relating to the opening up of the Account.
  5. Certified copy of the by-law which has authority to sign.
  6. Recommendation of the Co-operative Development officer.

08. What are the required documents should provide to take the approval of outside loans? (as provided by by-loans)

  1. Request of the society.
  2. Decision of the Board of directors.
  3. Copy of the general meeting report which decided for maximum limit.
  4. Balance sheet audited for the last time.
  5. Capital account which is not older than 3 months.
  6. Recommendation of the Co-operative Development officer.

09. What are the qualifications should fulfill to take the approval of Manpower?

  1. Request of the society.
  2. A certified copy of the decision of the board of directors/ Committee / General meeting.
  3. Capital Account (not older than 3 Months.).
  4. Final Accounts of the Final Audit report and the copy of the balance sheet.
  5. Internal memo.
  6. How the manpower has been attached according to the approved manpower assessment.
  7. Copy of the manpower assessment in operation at present.
  8. Report of information confirming the necessity of a revision.
  9. Salary estimate and how salary is earned.
  10. Impact on the business activities of the society by the revision of manpower assessment.
  11. Recommendation of the Co-operative Development officer.

 

Audit

01. How the process of auditing operates?

  1. Once every year statutory auditing should be done.
  2. Planning of auditing and deployment of offices will be done by the department.
  3. After the audit reports are reviewed and released to the society the audit report should be submitted to the general meeting of the society.
  4. If  there are objections  to the matters revealed by the audit report, the department will have to intervene.

02. Statutory Audit.

Within 3 months after the financial year is closed, the following documents have to be forwarded to the Assistant Commissioner of Co-operative Development.

  1. Commercial and sectoral accounts relevant to the balance inspection and business activities of the society.
  2. Profit and loss accounts.
  3. Balance sheet.
  4. Schedules required to confirm the balance sheet ( On receipt of the above documents, the auditing will be completed during the period given in the plans).

 

Liquidating

01. What are the instances of closing down a society?

  1. When transaction have not started even after one year of registering the society.
  2. The society having been registered and stated work when no transactions have taken place even after two consecutive years.
  3. When the number of members in less than 10.
  4. At the request of ¾ of general meeting of the society.

According to the report of the audit officer, the registration of the society will be cancelled and having called for ownership of assets and liabilities, transactions will be terminated.


 

Arbitration

01. Adjudication (Settlement of disputes)

  1. Application for the award. (Loans / Miscellaneous ).
  2. A copy of the letter of document sent.
  3. Certificate of the rural bank field officer to the effect that the letter of demand was handed over / In the case of a SANASA society certificate of the secretary.
  4. Confirmation that the letter of demand was sent under registered post
  5. Copies of decisions of Board of Directors taken to be returned for settlement and to appoint the legal representative.
  6. Letter of expression of willingness of the legal representative.
  7. Certificate from the society to the effect that sufficient efforts were made to recover loans in terms of the circular No. 2007/7.
  8. Adjudicates fee.
  9. Recommendation of the Co-operative Department officer.

02. Why go for adjudication?

  1. Disputes among the society and members regarding the non- settlement of loans taken from the society.
  2. Disputes between the society and employees regarding business activities of the society.

If settlement could not be reached by arbitration they will be referred to courts

 

 

 

Training Center

training centre Call for the reservations of Training Center for the educational training programs and other special occasions of your organization. Mr.Mohan +94 718 222881

School Development Programs

school development program Call Mr.Mohan +94 718 222881 for the training opportunities on the development of school Co-operatives under the "School Cooperative Society Prabodhani" program

Training Programs

training programs Certificate Course in Co-operative Rural Bank Mgt. conducted by the Department of Co-operative Dev. & IBSL has commenced . Please call Mr.Sarath on +94 713 259 598 to apply

Reach Us

Reach us P.O Box 02
Ahalepola Kumarihami Mawatha
Bogambara
Kandy, 20000
Sri Lanka

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