Philippines : Republic Act No. 3939 of 1990
This document articulates about the act that was passed in the Republic of Philippines for the creation of a Cooperative Development Authority in Manila, with the objective of promoting the viability and growth of cooperatives as instruments of equity, social justice and economic development.
The document is divided into sections and outlines the following:
- Powers, functions and responsibilities of the cooperatives;
- Role of the governing body and details about the terms of contract of its members;
- Qualifications of members of the governing body;
- Mediation and conciliation details;
- Power of the authority to make rules for the cooperatives;
- Fund transfer mechanisms from and to cooperatives;
- Restriction and prohibition on the use of the term 'Cooperative' by private enterprises.
The document mentions that the funds needed to carry out the provisions of this Act would be charged to the Bureau of Agricultural Cooperative Development and Regional Cooperative Development Assistance Offices and also to the departments whose functions and programs get transferred to the authority.
Finally, it mentions that this act was approved and passed by both the House of Representatives, and the Senate, on February 22 and March 2, 1990 respectively.
