Top 200 Employment Law
Top 200 Employment Law

Top 200 Employment Law for Readymade Garments

Employment Law

Cooperative Rules

  • Performance Audit and Test Audit have been introduced in the rules to establish better performance and accountability.
  • The area of expenditure of Co-operative Development Fund (CDF) has been specified and broadened.
  • Provision for payment of incentive from the net profit in addition to working allowance and honorarium.  
  • The new Co-operative Societies Rules has written in Bangla to make the same easily understandable by the co-operators.
  • The new rule is composed of 163 rules instead of 185 rules of the previous one.
  • Definition of various classes of cooperative societies has been incorporated.
  • Time has been scheduled for holdings the Annual General Meeting within the co-operative year.
  • Power of general meeting has been strengthened  regarding:
  • Examining the activities of the managing committee.
  • Approval of the annual budget and development projects taken by the society. 
  • Using reserve fund in the business of cooperative societies.
  • Declaration of dividend at a maximum of 75% of the net profit.
  • Managing committee has been empowered regarding:
  • the election committee to conduct the election.
  • Provision of incentives from net profit to increase professionalization in the affairs of the Managing Committee.
  • Raising fund of the society.
  • Investment of fund.
  • Formation of sub-committees for special works.
  • Preparation of the statement of accounts and submit it to the auditor.

Conclusion

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