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Cooperatives Act (No. 421 of 2013).

Country/Territory
Finland
Document type
Legislation
Date
2013
Source
FAO, FAOLEX
Subject
Agricultural & rural development, Water
Keyword
Cooperative/producer organization Basic legislation Registration Water supply Water users' associations Non-governmental entity
Geographical area
Arctic, Europe, Europe and Central Asia, European Union Countries, North-East Atlantic, Northern Europe
Abstract

This Act regulates establishment, incorporation, registration, and various aspects of administration and functioning of cooperatives in Finland. The Act introduces reformed rules for cooperatives, so as to correspond to the demands of modern business operations and to strengthen the competitive position of Finnish cooperatives. The Act simplifies the process of incorporating a cooperative, reduces governance obligations, and facilitates the process of acquiring capital from members and investors. A large part of the cooperatives in Finland are cooperatives for water supply purposes. Provisions on standard bylaws for cooperatives may be issued by Regulation of the Ministry of Justice. A cooperative shall be registered in accordance with provisions of the Trade Register Act (129/1979) within three months after the constitution agreement is signed.

Full text
English
Website
www.finlex.fi

References - Legislation

Repeals

Co-operatives Act (No. 1488 of 2001).

Legislation | Finland | 2001 (2010)

Keyword: Cooperative/producer organization, Basic legislation

Source: FAO, FAOLEX