Cabinet Resolution No. (55) of 2024 Concerning the Executive Regulations of Federal Decree-Law No. (6) of 2022 Concerning Cooperative Associations
Article 1 — Definitions ¶
In application of provisions of this Resolution, definitions set forth in Federal Decree-Law No. (6)
SCA:
Cooperative Movement:
Senior Members:
Cooperative Association Unions:
Joint Cooperative Associations:
Financial Shares and Financial Instruments:
Treasury Shares:
A Working Day:
Law:
Article 2 — Cooperative Association Name ¶
1. Each cooperative association shall have a name that contains the word “cooperative association” t
Article 3 — Period of the Cooperative Association ¶
Period of the cooperative association shall be limited or unlimited as set forth in its memorandum o
Article 4 — Founders ¶
1. A founder is every natural or legal person that signed the memorandum of association of the coope
a. The cooperative association shall be incorporated by at least (10) ten persons. b. As an exceptio
Article 5 — Constituent General Assembly ¶
Procedures of the Constituent General Assembly:
a. The Constituent General Assembly shall consist of founders. Such assembly shall convene when nece
2. The Constituent General Assembly shall manage and take decisions, specifically, in the following
Competences of the Constituent General Assembly:
a. Actions of the Committee that relate to the cooperative association during the incorporation peri
Article 6 — Memorandum of Association and Articles of Association of the Cooperative Association ¶
1. The Memorandum of Association and Articles of Association of the Cooperative Association shall be
Article 7 — Articles of Association of the Cooperative Association ¶
The form of the Articles of Association shall include as minimum the following content, and the comp
1. Identity of the cooperative association:
a. Name and period of the cooperative association. b. The headquarters, postal address and email add
2. Members:
a. Requirements and procedures to accept or lose membership, including withdrawal of members, remova
3. Dealing with non-members:
a. Rules of dealing with non-members. b. Conditions, controls and standards of strategic partners in
4. Agencies of the cooperative association:
a. Competences of the General Assembly in its annual meeting, the General Assembly that is exception
5. Financial Provisions:
a. Procedures and conditions of shares subscription and payment of its price. b. Bank account of the
6. Other Matters:
a. Cases regulating the cooperative association joining one of the joint cooperative associations or
Article 8 — Submission of Incorporation Application ¶
1. The committee shall submit to the competent authority an incorporation application according to t
a. Undertaking of the committee to seek completion of the incorporation procedures. b. Memorandum of
2. No details may be amended in the incorporation application of the cooperative association after i
Article 9 — The Competent Authority's Consideration of the Incorporation Application ¶
1. Deciding the incorporation application:
a. The competent authority shall check that the documents of the application are fulfilled and then
2. Studying and deciding the incorporation application:
a. The committee shall submit the incorporation application with all documents required according to
3. Meeting with the committee and requesting any additional information:
a. The competent authority may, within the period stipulated in Paragraph (b) of Clause (2) of this
Article 10 — Approval of the Incorporation Application ¶
1. Accepting the Incorporation Application:
a. Upon fulfilling and reviewing the documents of the application, the competent authority shall iss
2. Rejection of the Incorporation Application:
a. If the competent authority refused the incorporation application, the decision shall be justified
3. Keeping data at the competent authority:
a. The competent authority shall keep all documents and papers of the cooperative association. b. Th
Article 11 — Announcement of Non-Incorporation of the Cooperative Association ¶
If the cooperative association is not incorporated, the competent authority shall announce the commi
Article 12 — Attestation of the Constituent General Assembly for Incorporation Procedures and Appoin ¶
1. The Constituent General Assembly shall convene to discuss the report of the committee and the aud
Article 13 — Subscription in Shares ¶
1. Provisions of this article shall apply to subscription during the incorporation phase to complete
a. The committee shall sign the prospectus of subscription and shall be liable for the validity of d
j. If subscription exceeds the number of offered shares, such shares shall be distributed to subscri
k. Entities that are licensed to receive subscription shall, upon closing subscription, take the fol
1. Allocate shares for subscribers within a period not exceeding (5) five working days as of the clo
Article 14 — Amendment of the Cooperative Association Articles of Association ¶
1. No amendment in the Articles of Association of the cooperative association may be accepted unless
Article 15 — Minimum Shares to Keep Equity of Shares for Natural and Legal Persons ¶
1. A member shall keep the minimal limit of shares stipulated in the Articles of Association of the
Article 16 — Procedures of Acceptance ¶
1. A person who wishes to be a member in the cooperative association shall submit an application in
Article 17 — Cases of Membership Capacity Loss ¶
A member shall lose the membership in the following cases: 1. The loss of one of the conditions tha.
Article 18 — Withdrawal ¶
1. Each member shall be entitled to withdraw from the cooperative association according to the rules
Article 19 — Revocation of their Membership ¶
1. The General Assembly shall be the competent authority to take decisions of membership revocation,
a. If the member deliberately violates the provisions of the articles of association, grossly harms
3. The proposal of the BOD to revoke a membership shall be justified and shall be after the member i
Article 20 — Temporary Suspension ¶
If the cooperative association requires a certain kind of obligations or special conditions to join
Article 21 — Effects of Membership Capacity Loss ¶
1. A member who lost his membership capacity may not, in case he is eligible to retrieve his contrib
a. All or some heirs of the deceased member may continue in the cooperative association and acquire
Article 22 — General Provisions on the General Assembly ¶
1. The General Assembly is the supreme authority in the cooperative association and consists of all
Article 23 — Attendance, Voting, and Representation ¶
1. Right to Attend and Vote:
a. Every member is entitled to attend the General Assembly. b. The General Assembly may be convened
2. Delegation to Attend the General Assembly Meetings:
a. Every person who is entitled to attend the General Assembly may delegate a person of his choice a
3. Representation of the Legal Person:
a. Legal persons shall be represented by their legal representatives or any other persons delegated
4. Attendance of Non-members:
a. The BOD shall call the Ministry and the competent authority to attend the general assembly meetin
Article 24 — Record of Attending the General Assembly Meeting ¶
1. The cooperative association shall keep a log for attending the meetings of the general assembly c
Article 25 — The Annual Meeting of the General Assembly ¶
1. The annual meeting of the General Assembly shall convene subject to an invitation from the BOD at
a. The report of the BOD about its works during the year, the current and future projects. b. The fi
4. The General Assembly, in its annual meeting, shall be competent to consider and take decisions in
a. Reports of the BOD during the aforementioned fiscal year in Clause (3) of this Article containing
Article 26 — The Extraordinary General Assembly ¶
1. The Extraordinary General Assembly may be convened at any time subject to a call from the BOD pur
a. Majority of the BOD Directors. b. (10%) ten percent of the members of the cooperative association
2. The aforementioned request in clause (1) of this Article shall be sent to the BOD of the cooperat
Article 27 — Invitation for the General Assembly Meeting and its Agenda ¶
The cooperative association shall, upon inviting the General Assembly, abide by the following contro
1. The controls required in order to invite the General Assembly to convene:
a. The consent of the Ministry and the competent authority before sending the invitation for the Gen
1. The report of the BOD about its works during the year, the current and future projects. 2. Financ
g. The announcement of the meeting invitation shall include the agenda, place, date and time of the
The competent authority may, with respect to the basic cooperative association which has senior memb
2. Special systems for voting:
a. In person voting. b. Voting via electronic methods, the mechanism of controlling such voting and
3. Agenda of the General Assembly:
a. The agenda of the annual meeting of the General Assembly shall contain the matters determined in
Article 28 — Quorum and the Majority of the General Assembly ¶
All resolutions of the General Assembly shall be enforced, including the resolutions of the followin
1. Common provisions with respect to quorum:
a. The canvasser shall, after closing registration of the General Assembly and checking the capaciti
Without prejudice to common provisions with respect to the quorum stipulated in clause (1) of this A
2. Quorum at the first meeting:
3. The second meeting and its quorum:
a. Without prejudice to common provisions with respect to the quorum stipulated in clause (1) of thi
1. (3) Three members if the number of the cooperative association members is not more than (100) one
c. If the quorum does not exist in the second meeting, the invitation for the meeting shall be renew
4. The majority required to approve resolutions: Resolutions shall be taken by the majority of votes
Article 29 — Requirements to Regulate Special Resolutions ¶
1. Fields of special resolutions:
a. Special resolutions are issued for substantial matters for the cooperative association, such as t
1. Amendment of the Articles of Association and Memorandum of Association. 2. Transforming the Coope
b. Articles of association of the cooperative association may provide any other cases that require a
2. The quorum required for special resolutions:
a. Without prejudice to the common provisions with respect to quorum stipulated in clause (1) of art
1. (6) Six members if the number of the cooperative association members is not more than (100) one h
c. If the quorum of the special resolution is not complete, the invitation may be renewed. If the qu
3. Provisions that relate to quorums of attendance for the second meeting in the resolutions to diss
a. As an exception from Paragraphs (B) and (C) of clause (2) of this Article, if the General Assembl
1. (40%) Forty percent if the number of the cooperative association members is not more than (100) o
b. If the quorum is not complete at the second meeting, the invitation may be renewed after (6) six
4. Quorum for voting on the special resolutions:
a. The special resolution shall be taken by the majority of two thirds of the attending votes. b. Vo
Article 30 — Record of Minutes for the General Assembly Meeting ¶
The cooperative association shall record the meetings of the General Assembly in minutes dedicated f
Article 31 — Chairman of the General Assembly ¶
1. The meeting of the General Assembly shall be chaired by the chairman of the Board. In case of his
a. To announce the number of attending members, the number of votes, percentage of attendance, the q
Article 32 — The Secretary, Observer and Canvasser of the Meeting ¶
1. The BOD shall appoint a secretary for the meeting whose task is to record the minutes of the meet
Article 33 — Discussion of the Agenda ¶
Each member attending the works of the General Assembly shall be entitled to discuss the topics list
Article 34 — Voting on Resolutions of the General Assembly ¶
1. Each member in the General Assembly shall have one vote regardless his contribution in the capita
a. Voting shall be in secret if resolutions relate to election of BOD members or their dismissal, or
Article 35 — Voting Systems ¶
1. Voting may be made in the meetings of the General Assembly via electronic methods, unless the art
Article 36 — Enforcement of the General Assembly Resolutions ¶
1. The BOD shall enforce the General Assembly resolutions, taking into account the Law, this Resolut
Article 37 — BOD Formation ¶
The cooperative association shall be managed by the BOD and the articles of association of the coope
Article 38 — Electing Members of the BOD ¶
With the exception of the cases where the BOD members are nominated by the competent authority, BOD
Article 39 — Duties and Obligations of A BOD Member ¶
1. The BOD member shall attend the meetings of the Board and participate regularly in its works, rev
Article 40 — BOD Vacancies ¶
1. If seats in the BOD are vacant between the times of the General Assembly convention for any reaso
Article 41 — Agreements of the BOD Members That Are Subject to Prior Approval ¶
1. Any agreement made, directly or indirectly or through a third party, between the cooperative asso
a. Disengagement between ownership and management. b. Disengage tasks and the BOD member, or any of
Article 42 — Meeting of BOD ¶
BOD shall meet at the headquarters of the cooperative association or any other place, at least once
1. Number of annual meetings and place of convention:
2. Meetings invitation:
a. The invitation for the meeting shall be sent via the email of the cooperative association or any
3. Quorum and the majority:
a. Convention of the Board shall not be valid unless at least majority of directors are present and
Attendance in the meetings of BOD shall be confined to BOD Directors only, provided that BOD may cal
4. Attendance and Representation:
5. Remote convention of BOD meetings via technologies:
Article 43 — BOD Competences ¶
1. BOD shall practise is competences designated in the articles of association of the cooperative as
a. Set, execute and review the strategic orientations, the main objectives of the cooperative associ
Article 44 — Capital Accumulation ¶
1. Capital of the cooperative associations shall consist of cash shares, in-kind shares or one of th
a. In-kind shares are financially assessable assets and are not commitments or the provision of a se
9. Ownership of shares shall be proved for members by registering such ownership in the register of
Article 45 — Capital Increase ¶
1. The cooperative association may increase its capital in order to cope with the development of its
a. Subscribing new shares by the current members of to join new members. b. Convert a percentage of
3. As an exception to the provisions of this Article, the Competent Authority may issue decisions re
Article 46 — Capital Reduction ¶
1. Capital of the cooperative association may be reduced subject to a resolution to be issued by the
a. Obtaining the opinion of the independent auditor, showing a recommendation before taking the deci
Article 47 — Transfer of Shares of the Cooperative Association ¶
1. Provisions of this Article shall apply to transfer of shares ownership without exceeding the mini
Article 48 — Member Renunciation of His Shares Without Retrieving its Value ¶
1. A member may renounce his shares for the interest of the cooperative association without claiming
Article 49 — Share Premium, Share Discount, and Share Fees ¶
1. Share premium and share discount:
a. Share premium and share discount shall apply on shares whenever justified. b. The cooperative ass
1. Add a share premium to the nominal value of shares if its market value is more than its nominal v
c. Share premium and share discount shall be assessed by a financial expert firm accredited by the S
2. Issue Fees:
a. Transfer of bonds and sukuk into shares shall be subject to issue fees in order to cover the cost
Article 50 — Treasury Shares ¶
1. The cooperative association may not purchase its shares unless for the purpose of capital reducti
Article 51 — Financial Instruments and Financing Shares Issued by the Cooperative Association and He ¶
The cooperative association shall issue financial instruments and financing shares according to the
a. Whenever there is any proof referring that a loss in capital, reserves, financial returns and the
Article 52 — Types of Reserves ¶
Without prejudice to provisions regulating the legal and optional reserves stipulated in Law, reserv
1. Legal Reserve:
a. (10%) of the Cooperative Association net profits shall be deducted every year and allocated to fo
The cooperative association may, without prejudice to its articles of association, allocate the opti
2. Optional Reserve:
a. Development of the cooperative association activity and implementation of investments. b. For the
Capital profits resulting from the sale of assets at a price higher than their book value and not re
3. Funds generated from Capital Profits:
4. Funds generated from grants and donations:
Article 53 — Social Responsibility Allocation ¶
1. The Cooperative Association, after the approval of the Competent Authority and the issuance of a
Article 54 — Transferring Part of Optional Reserves to Capital ¶
1. The first transfer may not exceed half of the available reserves at the end of the fiscal year pr
Article 55 — Distributable Net Profits ¶
1. The net profits for each fiscal year consist of the revenues generated from its business and acti
a. Amounts to cover the negative result, losses and debts owed by the Cooperative Association for th
3. The Cooperative Association may settle the debts owed by members or strategic partners to the Coo
Article 56 — Net Profits Distribution ¶
1. After deducting the legal and optional reserves and the allocations allocated for Social Responsi
a. What the General Assembly decides as returns on members’ dealings with the Cooperative Associatio
1. In proportion to the value of purchases made by the member in Consumer Cooperative Associations.
b. What the General Assembly decides as returns on capital shares, not less than (20%) twenty per ce
2. The Cooperative Association AOA shall determine the minimum and maximum distributions on transact
Article 57 — Profits from Non-Member Transactions ¶
1. Subject to the special provisions for certain types of Cooperative Associations, a Cooperative As
Article 58 — Property Rights in the Cooperative Association ¶
1. Property rights of the Cooperative Association shall be divided as follows:
a. : Funds consisting of gifts, grants, endowments, non-distributable reserves, and allocations for
Cooperative Association property rights
Members' equity:
2. The Cooperative Association shall separate the rights stipulated in Clause (1) of this Article wh
Article 59 — Conditions for Acquiring and Losing the Status of Core Cooperative Association ¶
1. A Cooperative Association shall be considered basic when its AOA allow it to grant special privil
a. Its capital shall not be less than (AED 100,000,000) one hundred million dirhams. b. Its annual r
2. The Cooperative Association shall lose its Core Cooperative Association Status if it no longer me
Article 60 — Conditions for Acquiring and Losing the Status of Senior Member ¶
1. The Core Cooperative Association shall annually determine, at least thirty (30) days before the G
a. The top (10) ten members, provided that the size of their investments in the Cooperative Associat
2. The following conditions shall be met for a member to enjoy the status of Senior Member:
a. The Cooperative Association shall be a Core Cooperative Association. b. The member shall be a maj
3. The BOD shall declare the title and name of the Senior Member of the member who meets the conditi
Article 61 — Preferential Benefits of Senior Members ¶
As an exception to the “one vote per member” rule, the Core Cooperative Association AOA may grant mu
1. Multiple voting rights:
a. The percentage of votes of the senior voting members combined shall not exceed (35%) thirty-five
Senior Members shall enjoy the following Preferential Benefits:
2. Other Preferential Benefits:
a. The right to request an invitation to hold Extraordinary General Assembly. b. The right to reques
1. The application for inclusion shall be submitted by a majority of Senior Members. 2. The new Clau
c. The right to submit recommendations, reports and observations to the BOD for presentation to the
Article 62 — Non-Core Cooperative Associations ¶
1. Each member of the Non-Core Cooperative Associations shall have one vote regardless of the number
Article 63 — Common Provisions for Types of Cooperative Associations ¶
Cooperative Associations shall carry out their activities in all economic sectors in the Cooperative
Article 64 — Cooperative Associations ¶
1. Consumer Cooperative Associations are formed between consumers who unite for the following purpos
a. Sell or supply to its members consumer products or services purchased or produced by the Cooperat
2. The Consumer Cooperative Association shall accept membership from persons who deal with it on a r
Article 65 — Productive Cooperative Associations ¶
1. Productive Cooperative Associations shall be formed among producers in the same field or in compl
Article 66 — Cooperative Associations of Employees and Professionals ¶
1. Workers' Cooperative Associations shall consist of employees or professionals of all categories a
a. They practice their professions together in a Cooperative Association that they manage themselves
2. Non-Member workers have the same rights concerning wages and the right to returns on transactions
Article 67 — Community Cooperative Associations ¶
1. Community Cooperative Associations shall be made up of persons who benefit from the Cooperative A
a. Anyone who produces goods or services. b. Any employee of the Cooperative Association. c. Any per
3. Legal persons owned by government entities may contribute to the capital of Community Cooperative
Article 68 — Service Cooperative Associations ¶
Service Cooperative Associations shall be formed among persons with common interests who join togeth
Article 69 — Digital Cooperative Associations and Platform Cooperative Associations ¶
Digital Cooperative Associations and Platform Cooperative Associations consist of persons who benefi
Article 70 — Model Statutes on Types of Cooperative Associations ¶
When preparing or amending their bylaws, Cooperative Associations shall comply with the detailed pro
Article 71 — Typical Consumer Cooperative Associations in the Retail Sector ¶
1. Typical Consumer Cooperative Association in the Retail Sector is in any of the following cases:
a. It was registered before the law came into effect and operates in the consumer Retail Sector. b.
2. The Cooperative Association loses its status as a Typical Consumer Cooperative Association in the
Article 72 — Special Provisions of the Typical Consumer Cooperative Associations in the Retail Secto ¶
1. Special provisions concerning membership: Non-citizens may not be members of Typical Consumer Coo
a. The Competent Authority may, where necessary, cancel the minimum number of shares to be held by t
Article 73 — Control Procedures ¶
1. Cooperative Associations compliance with sending documents and publishing disclosures:
a. The Cooperative Association is committed to sending the minutes of the meetings of the BOD and th
2. Supervisory and control functions.
a. The Ministry and the Competent Authority shall supervise and control Cooperative Associations, an
1. Confirm the Cooperative Association compliance with the provisions of the law, this decision, the
b. The Ministry may coordinate with the Competent Authority, and the Competent Authorities may coord
Article 74 — Control Results ¶
1. Dissolve the BOD:
a. If it is proven to the Competent Authority that the BOD is unable to carry out its duties or is u
1. Either appoint a new BOD, for a period not exceeding (3) three years, renewable once. 2. Or appoi
b. All decisions of the Competent Authority to dissolve the BOD and appoint a new or temporary BOD,
2. Call to overcome the mistakes made and dissolve the Cooperative Association:
a. If the Competent Authority finds that the Cooperative Association has not respected its legal obl
The Competent Authority shall appoint experienced and specialised advisor and determine his fees. He
3. The role of the Competent Authority in appointing advisor to the BOD:
Article 75 — Appointing Auditors and Setting Their Remuneration ¶
1. The Auditor shall be appointed for a renewable period of one fiscal year , and the General Assemb
Article 76 — Conditions for Auditor Appointment ¶
The Auditor shall meet the following requirements in particular: 1. To be licensed to practice the p
Article 77 — Auditor Duties ¶
1. The Auditor shall audit the Cooperative Association business, operations and accounts, examine th
Article 78 — Auditor Responsibilities and Powers ¶
1. The Auditor may request any information or data necessary to perform his duties. 2. The Auditor m
a. Identify and assess the risks of material misstatement in the Financial Statements, whether due t
Article 79 — Audit Report ¶
1. The accounts for the fiscal year are audited by the Auditor who prepares a report on them, and th
Article 80 — Auditor Obligations ¶
1. Maintaining the confidentiality of Cooperative Association data: The Auditor shall maintain the c
Article 81 — Auditor Dismissal ¶
1. The Cooperative Association may, by a decision taken by the General Assembly, dismiss the Auditor
Article 82 — Auditor Resignation ¶
1. The Auditor may resign from his mission by a written notice submitted to the Cooperative Associat
Article 83 — Requirements of the Cooperative Association into a Commercial Company ¶
1. A Cooperative Association may transform into a company in the manner specified in the Companies L
a. Issue a decision by the General Assembly to assign the BOD to conduct a feasibility study and an
2. If the requirements set forth in Clause (1) of this Article are met and the conditions for transf
Article 84 — Transformation Conditions and Procedures ¶
The conditions and procedures for transforming a Cooperative Association into a commercial company a
a. A detailed statement explaining the reasons, objectives and form of the company to which it is de
5. The Cooperative Association shall announce the decision to transform in two local daily newspaper
Article 85 — Objection to the Transforming Decision ¶
1. Members, strategic partners, Cooperative Association Creditors, holders of loan bonds or sukuk, a
Article 86 — Effects of Transforming ¶
1. The Competent Authority, after the Cooperative Association is transformed into a commercial compa
Article 87 — Merge Ways ¶
Merger takes one of two ways: 1. Merger of one or more Cooperative Associations into another Coopera
Article 88 — Merger Terms ¶
1. In consideration of Clause (2) of Article (27) of the Law, a Cooperative Association may merge wi
Article 89 — Merger Contract ¶
The Merger Contract determines the organisation of the terms and method of the Merger, and contains
Article 90 — Merger Procedures ¶
The BOD of each merging and merged Cooperative Association shall call the General Assembly to conven
Article 91 — Redemption of Shares by Objecting Members ¶
Members who object to the Merger Decision may request to withdraw from the Cooperative Association a
Article 92 — Notice to Creditors ¶
Every merging or merged Cooperative Association shall send a notice to its Creditors, strategic part
Article 93 — Objection to Merger ¶
1. The Creditor, strategic partner, or holder of loan bonds and sukuk who has informed the Cooperati
Article 94 — Effects of Merger ¶
The Merger leads to the dissolution of the merged Cooperative Association or Cooperative Association
Article 95 — General Provisions for Joint Cooperative Associations and Cooperative Association Union ¶
1. The provisions of this decision shall apply to Joint Cooperative Associations and Cooperative Ass
Article 96 — Joint Cooperative Associations ¶
1. Incorporation
a. Two or more Cooperative Associations, even if they are from different Emirates, may form a Joint
2. Purpose:
a. The Joint Cooperative Association undertakes all activities required to improve the economic capa
3. Representation and distribution of votes:
a. Each Cooperative Association joining the Joint Cooperative Association shall appoint a representa
Article 97 — Cooperative Association Unions ¶
1. Incorporation
a. Cooperative Associations of the same type may establish a Cooperative Association Union among the
2. Duties:
a. Facilitate and ease the work of member Cooperative Associations and coordinating their efforts to
Article 98 — Cases for Cooperative Association be Dissolved ¶
The Cooperative Association shall be dissolved in the following cases: 1. In accordance with the pro
a. The specified period has expired unless it is renewed in accordance with the Cooperative Associat
2. Issue a judicial ruling to dissolve the Cooperative Association by the Competent Court. 3. The Co
a. If the Competent Authority finds that the Cooperative Association has not respected its legal obl
4. Merge the Cooperative Association into another Cooperative Association or into a new Cooperative
Article 99 — Procedures for Cooperative Association be Dissolved ¶
1. If the dissolution is based on a special decision of the General Assembly, the dissolution decisi
Article 100 — Applicable Provisions to Liquidation ¶
Cooperative Associations shall be liquidated under the supervision of the Competent Authority, the p
Article 101 — Liquidator Appointment and Dismissal ¶
1. The General Assembly, the Competent Court or the Competent Authority shall appoint one or more Li
Article 102 — Inventory and Preservation of Cooperative Association Funds ¶
1. Immediately after his appointment, the Liquidator shall make inventory of the Cooperative Associa
Article 103 — The Liquidator of the Cooperative Association Representation ¶
1. The Liquidator shall carry out all the work required for Liquidation, in particular representing
Article 104 — Notice of Liquidation to Creditors ¶
All debts owed by the Cooperative Association shall lapse upon its dissolution, and the Liquidator s
Article 105 — Paying off Cooperative Association Debts ¶
1. If the Cooperative Association funds are not sufficient to pay all the debts, the Liquidator shal
Article 106 — Interim Periodic Reports and Final Accounts of Liquidation ¶
1. The Liquidator shall submit to all members and the General Assembly every (3) three months a temp
Article 107 — Liquidation Term ¶
1. The Liquidator shall complete their task within the term specified in his appointment document. I
Article 108 — Liquidation Funds and Their Regulation ¶
1. In the event of the dissolution of the Cooperative Association, and after settling the rights of
Article 109 — Financial Liability of Members for Liquidation Losses ¶
1. If the Liquidation reveals losses, these losses shall be divided among the members in accordance
Article 110 — Executive Resolutions ¶
The Minister shall issue the Resolutions necessary to apply the provisions of this Resolution.
Article 111 — Resolution Publication and Entry into Force ¶
This Resolution shall be published in the Official Gazette and shall enter into force as of the day
Unofficial text extracted from public documents; formatting and completeness are not guaranteed. Verify against the official source. In case of conflict, the Arabic text prevails. Not legal advice. Official source ↗