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Update on RA 9520 : 

Update on RA 9520 VICTO National 4th Ownership Meeting 28 March 2009 Iloilo Grand Hotel Iloilo City

Slide 3: 

Cooperative, Definition ASPIRATIONS BY making equitable contributions to the capital required, PATRONIZING THEIR PRODUCTS AND SERVICES and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles.

Slide 4: 

Cooperative Principles Voluntary and Open Membership Democratic Member Control Member Economic Participation Autonomy and Independence Education, Training and Information Cooperation Among Cooperatives Concern For Community

Slide 5: 

General Assembly Provides that for cooperatives with numerous and dispersed membership, the general Assembly may be composed of delegates elected by sector, chapter or district of the cooperative in accordance with the rules and regulations of the Cooperative Development Authority

Slide 6: 

Representative Assembly MEANS THE FULL MEMBERSHIP OF A BODY OF REPRESENTATIVES ELECTED BY EACH OF THE SECTORS, CHAPTER OR DISTRICT OF THE COOPERATIVE DULY ASSEMBLED FOR THE PURPOSE OF EXERCISING SUCH POWERS LAWFULLY DELEGATED UNTO THEM BY THE GENERAL ASSEMBLY IN ACCORDANCE WITH ITS BYLAWS;

Slide 7: 

Officers of the Cooperative SHALL INCLUDE THE MEMBERS OF THE BOARD OF DIRECTORS, MEMBERS OF THE DIFFERENT COMMITTEES CREATED BY THE GENERAL ASSEMBLY, GENERAL MANAGER OR CHIEF EXECUTIVE OFFICER, SECRETARY, TREASURER AND MEMBERS HOLDING OTHER POSITIONS AS MAYBE PROVIDED FOR IN THEIR BYLAWS;

Slide 8: 

Social Audit IS A PROCEDURE WHEREIN THE COOPERATIVE ASSESSES ITS SOCIAL IMPACT AND ETHICAL PERFORMANCE VIS-À-VIS ITS STATED MISSION, VISION, GOALS AND CODE OF SOCIAL RESPONSIBILITY FOR COOPERATIVES TO BE ESTABLISHED BY THE AUTHORITY IN CONSULTATION WITH THE COOPERATIVE SECTOR.

Slide 9: 

Social Audit IT ENABLES THE COOPERATIVES TO DEVELOP A PROCESS WHEREBY IT CAN ACCOUNT FOR ITS SOCIAL PERFORMANCE AND EVALUATE ITS IMPACT IN THE COMMUNITY AND BE ACCOUNTABLE FOR ITS DECISIONS AND ACTIONS TO ITS REGULAR MEMBERS;

Slide 10: 

Performance Audit SHALL REFER TO AN AUDIT ON THE EFFICIENCY AND EFFECTIVENESS OF THE COOPERATIVE AS A WHOLE; ITS MANAGEMENT AND OFFICERS; AND ITS VARIOUS RESPONSIBILITY CENTERS AS BASIS FOR IMPROVING INDIVIDUAL, TEAM OR OVER-ALL PERFORMANCE AND FOR OBJECTIVELY INFORMING THE GENERAL MEMBERSHIP ON SUCH PERFORMANCE;

Slide 11: 

Single Line or Single Purpose Cooperative SHALL INCLUDE COOPERATIVE UNDERTAKING ACTIVITIES WHICH ARE RELATED TO ITS MAIN LINE OF BUSINESS OR PURPOSE;

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Service Cooperatives ARE THOSE WHICH PROVIDE ANY TYPE OF SERVICE TO ITS MEMBERS, INCLUDING BUT NOT LIMITED TO, TRANSPORT, INFORMATION AND COMMUNICATION, INSURANCE, HOUSING, ELECTRIC, HEALTH SERVICES, EDUCATION, BANKING, AND SAVINGS AND CREDIT;

Slide 13: 

Subsidiary Cooperatives REFERS TO ANY ORGANIZATION ALL OR MAJORITY OF WHOSE MEMBERSHIP OR SHAREHOLDERS COME FROM A COOPERATIVE, ORGANIZED FOR ANY OTHER PURPOSE DIFFERENT FROM THAT OF, AND RECEIVES TECHNICAL, MANAGERIAL AND FINANCIAL ASSISTANCE FROM, A COOPERATIVE, IN ACCORDANCE WITH THE RULES AND REGULATIONS OF THE AUTHORITY;

Slide 14: 

Federation Of Cooperatives REFERS TO THREE OR MORE PRIMARY COOPERATIVES, DOING THE SAME LINE OF BUSINESS, ORGANIZED AT THE MUNICIPAL, PROVINCIAL, CITY, SPECIAL METROPOLITAN POLITICAL SUBDIVISION, OR ECONOMIC ZONES CREATED BY LAW, REGISTERED WITH THE AUTHORITY TO UNDERTAKE BUSINESS ACTIVITIES IN SUPPORT OF ITS MEMBER COOPERATIVES.”

Slide 15: 

Additional Purposes of Cooperatives TO ADVOCATE FOR THE CAUSE OF THE COOPERATIVE MOVEMENT; TO ENSURE THE VIABILITY OF COOPERATIVES THROUGH THE UTILIZATION OF NEW TECHNOLOGIES; TO ENCOURAGE AND PROMOTE SELF-HELP OR SELF-EMPLOYMENT AS AN ENGINE FOR ECONOMIC GROWTH AND POVERTY ALLEVIATION;

Slide 16: 

Additional Powers and Capacities of Cooperatives TO THE EXCLUSIVE USE OF ITS REGISTERED NAME, to sue and be sued; 7) To FORM SUBSIDIARY COOPERATIVES AND join federations or unions, as provided in this Code;

Slide 17: 

Additional Powers and Capacities of Cooperatives 8) To AVAIL OF LOANS, BE ENTITLED TO CREDIT AND TO accept and receive grants, donations and assistance from foreign and domestic sources, SUBJECT TO THE CONDITIONS OF SAID LOANS, CREDITS, GRANTS, DONATIONS OR ASSISTANCE THAT WILL NOT UNDERMINE THE AUTONOMY OF THE COOPERATIVE. THE AUTHORITY, UPON WRITTEN REQUEST, SHALL PROVIDE NECESSARY ASSISTANCE IN THE DOCUMENTARY REQUIREMENTS FOR THE LOANS, CREDIT, GRANTS, DONATIONS AND OTHER FINANCIAL SUPPORT;

Slide 18: 

Additional Powers and Capacities of Cooperatives 9) TO AVAIL OF PREFERENTIAL RIGHTS GRANTED TO COOPERATIVES UNDER REPUBLIC ACT NO. 7160, OTHERWISE KNOWN AS THE LOCAL GOVERNMENT CODE, AND OTHER LAWS, PARTICULARLY THOSE IN THE GRANT OF FRANCHISES TO ESTABLISH, CONSTRUCT, OPERATE AND MAINTAIN FERRIES, WHARVES, MARKETS OR SLAUGHTERHOUSES AND TO LEASE PUBLIC UTILITIES, INCLUDING ACCESS TO EXTENSION AND ON-SITE RESEARCH SERVICES AND FACILITIES RELATED TO AGRICULTURE AND FISHERERY ACTIVITIES;

Slide 19: 

Additional Powers and Capacities of Cooperatives 10) TO ORGANIZE AND OPERATE SCHOOLS IN ACCORDANCE WITH REPUBLIC ACT NO. 9155, GOVERNANCE OF BASIC EDUCATION ACT OF 2001 AND OTHER PERTINENT LAWS;

Slide 20: 

New Provisions on Organizing Cooperatives THAT A PROSPECTIVE MEMBER OF A PRIMARY COOPERATIVE MUST HAVE COMPLETED A PRE-MEMBERSHIP EDUCATION SEMINAR (PMES). ANY NEWLY ORGANIZED PRIMARY COOPERATIVE MAYBE REGISTERED AS MULTI-PURPOSE COOPERATIVE ONLY AFTER COMPLIANCE WITH THE MINIMUM REQUIREMENTS FOR MULTI-PURPOSE COOPERATIVES TO BE SET BY THE AUTHORITY.

Slide 21: 

New Provisions on Organizing Cooperatives A SINGLE-PURPOSE COOPERATIVE MAY TRANSFORM INTO A MULTI-PURPOSE OR MAY CREATE SUBSIDIARIES ONLY AFTER AT LEAST TWO (2) YEARS OF OPERATIONS. THAT THE STRUCTURE AND ACTUAL STAFFING PATTERN OF THE COOPERATIVE SHALL INCLUDE A BOOKKEEPER; COOPERATIVES SHALL NOT BE ALLOWED TO OPERATE WITHOUT THE NECESSARY PERSONNEL

Slide 23: 

Additional Types of Cooperatives ADVOCACY COOPERATIVE AGRARIAN REFORM COOPERATIVE COOPERATIVE BANK DAIRY COOPERATIVE EDUCATION COOPERATIVE ELECTRIC COOPERATIVE FINANCIAL SERVICE COOPERATIVE FISHERMEN COOPERATIVE HEALTH SERVICES COOPERATIVE HOUSING COOPERATIVE INSURANCE COOPERATIVE TRANSPORT COOPERATIVE WATER SERVICE COOPERATIVE WORKERS COOPERATIVE OTHER TYPES OF COOPERATIVE

Slide 24: 

Prohibited Elected Government Officials ALL elected official prohibited from being elected or appointed as officers

Slide 25: 

Denial of Application For Membership In case membership is refused or Denied by the board of directors, an appeal may be made to the general assembly and the latter’s decision shall be final. FOR THIS PURPOSE, THE GENERAL ASSEMBLY MAY OPT TO CREATE AN APPEAL AND GRIEVANCE COMMITTEE, THE MEMBERS OF WHICH, SHALL SERVE FOR A PERIOD OF ONE (1) YEAR AND SHALL DECIDE APPEALS ON MEMBERSHIP APPLICATION WITHIN THIRTY (30) DAYS UPON RECEIPT THEREOF.

Slide 26: 

Denial of Application For Membership IF THE COMMITTEE FAILS TO DECIDE WITHIN THE PRESCRIBED PERIOD, THE APPEAL IS DEEMED APPROVED IN FAVOR OF THE APPLICANT.

Slide 28: 

Powers of the BOD The board of directors SHALL BE RESPONSIBLE FOR THE STRATEGIC PLANNING, DIRECTION-SETTING AND POLICY-FORMULATION ACTIVITIES OF THE COOPERATIVES.

Slide 29: 

Additional Limitations of the Directors THE MEMBERS OF THE BOARD OF DIRECTORS SHALL NOT HOLD ANY OTHER POSITION DIRECTLY INVOLVED IN THE DAY TO DAY OPERATION AND MANAGEMENT OF THE COOPERATIVE. ANY PERSON ENGAGED IN A BUSINESS SIMILAR TO THAT OF THE COOPERATIVE OR WHO IN ANY WAY HAS A CONFLICT OF INTEREST WITH IT, IS DISQUALIFIED FROM ELECTION AS A DIRECTOR OF SAID COOPERATIVE.

Slide 30: 

Mandatory Committees in the Cooperative By Laws AUDIT, ELECTION, MEDIATION AND CONCILIATION, ETHICS, AND SUCH OTHER COMMITTEES AS MAY BE NECESSARY FOR THE CONDUCT OF THE AFFAIRS OF THE COOPERATIVE. THE MEMBERS OF BOTH THE AUDIT AND ELECTION COMMITTEES SHALL BE ELECTED BY THE GENERAL ASSEMBLY AND THE REST SHALL BE APPOINTED BY THE BOARD.

Slide 31: 

Per Diem of Officers DIRECTORS AND OFFICERS SHALL NOT BE ENTITLED TO ANY PER DIEM WHEN, IN THE PRECEDING CALENDAR YEAR, THE COOPERATIVE REPORTED A NET LOSS OR HAD A DIVIDEND RATE LESS THAN THE OFFICIAL INFLATION RATE FOR THE SAME YEAR.

Slide 32: 

Removal and Suspension of Officers MAJORITY OF THE BOARD OF DIRECTORS MAY PLACE THE OFFICER CONCERNED UNDER PREVENTIVE SUSPENSION PENDING THE RESOLUTION OF THE INVESTIGATION. Removal by 3/4 Vote of GA

Slide 33: 

Reports (1) Every cooperative shall draw up REGULAR reportS of its PROGRAM OF ACTIVITIES, INCLUDING THOSE INPURSUANCE OF THEIR SOCIO-CIVIC UNDERTAKINGS, SHOWING THEIR PROGRESS AND ACHIEVEMENTS AT the end of every fiscal year. THE REPORTS SHALL BE MADE ACCESSIBLE TO ITS MEMBERS, and COPIES THEREOF SHALL BE FURNISHED to all its members of record. THESE REPORTS shall be filed with the Authority within ONE HUNDRED TWENTY (120) DAYS from the end of THE CALENDAR year.

Slide 34: 

Reports The form and contents of the reportS shall be AS prescribed by the rules of the Authority. Failure to file the required reportS shall SUBJECT THE ACCOUNTABLE OFFICER/S TO FINES AND PENALTIES AS MAY BE PRESCRIBED BY THE AUTHORITY, AND SHALL be a ground for THE revocation of authority of the cooperative to operate as such.

Slide 35: 

Reports (2) If A cooperative fails to make, publish and file the report required herein, or fails to include therein any matter required by this Code, the Authority shall, within fifteen (15) days from the expiration of the prescribed period, send such cooperative a WRITTEN notice, stating ITS NON-COMPLIANCE AND THE COMMENSURATE FINES AND PENALTIES THAT WILL BE IMPOSED UNTIL SUCH TIME THAT THE COOPERATIVE HAS COMPLIED WITH THE REQUIREMENTS.

Slide 36: 

Instrument for Salary or Wage Deduction. THE RESPONSIBILITIES OF THE EMPLOYER TO DEDUCT FROM A COOP MEMBERS SALARY, LEAVE CREDITS AND OTHER MONETARY BENEFITS IN PAYMENT OF DEBTS TO THE COOPERATIVE SHALL BE MANDATORY: PROVIDED, THAT IN THE CASE OF A PRIVATE EMPLOYER, THE ACTUAL AND REASONABLE COSTS OF DEDUCTING AND REMITTING MAY BE COLLECTED.

Slide 37: 

Tax and Other Exemptions Cooperatives transacting business with both members and non members shall not be subject to tax on their transactions WITH members. IN RELATION TO THIS, THE TRANSACTIONS OF MEMBERS WITH THE COOPERATIVE SHALL NOT BE SUBJECT TO ANY TAXES AND FEES, INCLUDING BUT NOT LIMITED TO FINAL TAXES ON MEMBERS’ DEPOSITS AND DOCUMENTARY TAX.

Slide 38: 

Tax and Other Exemptions (2) Cooperatives with accumulated reserves and undivided net savings of more than ten million pesos (P10,000,000,00) shall pay the following taxes at the full rate: (a) Income Tax - On the amount allocated for interest on capitals: Provided, That the same tax is not consequently imposed on interest individually receive by members: PROVIDED,FURTHER, THAT COOPERATIVES, REGARDLESS OF CLASSIFICATION, ARE EXEMPT FROM INCOME TAX FROM THE DATE OF REGISTRATION WITH THE AUTHORITY;

Slide 39: 

Tax and Other Exemptions (b) VALUE ADDED TAX - On TRANSACTIONS WITH non members: Provided, however, That cooperatives DULY REGISTERED WITH THE AUTHORITY, are exempt from the payment of VALUE ADDED TAX, SUBJECT TO SECTION 109, SUB-SECTION L, M AND N, OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED: PROVIDED, THAT THE EXEMPT TRANSACTION UNDER SECTION 109 (L) SHALL INCLUDE SALES MADE BY COOPERATIVES DULY REGISTERED WITH THE AUTHORITY ORGANIZED

Slide 40: 

Tax and Other Exemptions AND OPERATED BY ITS MEMBERS TO UNDERTAKE THE PRODUCTION AND PROCESSING OF RAW MATERIALS OR OF GOODS PRODUCED BY ITS MEMBERS INTO FINISHED OR PROCESSED PRODUCTS FOR SALE BY THE COOPERATIVE TO ITS MEMBERS AND NON-MEMBERS: PROVIDED, FURTHER, THAT ANY PROCESSED PRODUCT OR ITS DERIVATIVE ARISING FROM THE RAW MATERIALS PRODUCED BY ITS MEMBERS, SOLD IN THE NAME AND FOR THE ACCOUNT OF THE COOPERATIVE, SHALL BE DEEMED A PRODUCT OF THE COOPERATIVE;

Slide 42: 

Par Value of One Share Not more than P1,000.00

Slide 43: 

Audit Cooperatives REGISTERED under this Code shall be subject to an annual FINANCIAL, PERFORMANCE AND SOCIAL audit. THE FINANCIAL AUDIT SHALL BE CONDUCTED BY AN EXTERNAL AUDITOR who satisfies all the following qualifications: (1) He is independent of the cooperative OR any OF ITS subsidiary THAT HE IS AUDITING; and (2) He is a member IN GOOD STANDING OF THE PHILIPPINE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (PICPA) AND IS ACCREDITED BY BOTH THE BOARD OF ACCOUNTANCY AND THE AUTHORITY.

Slide 44: 

Audit THE SOCIAL AUDIT SHALL BE CONDUCTED BY AN INDEPENDENT SOCIAL AUDITOR ACCREDITED BY THE AUTHORITY. PERFORMANCE AND SOCIAL AUDIT REPORTS WHICH CONTAIN THE FINDINGS AND RECOMMENDATIONS OF THE AUDITOR SHALL BE SUBMITTED TO THE BOARD OF DIRECTORS. THE AUTHORITY, IN CONSULTATION WITH THE COOPERATIVE SECTOR, SHALL PROMULGATE THE RULES AND STANDARDS FOR THE SOCIAL AUDIT OF COOPERATIVES.

Slide 45: 

Net surplus ANY PROVISION OF LAW TO THE CONTRARY NOTWITHSTANDING, the net surplus shall not be construed as profit but as AN excess of payments made by the members for the loans borrowed, or the goods and services AVAILED by them from the cooperative OR THE DIFFERENCE OF THE RIGHTFUL AMOUNT DUE TO THE MEMBERS FOR THEIR PRODUCTS SOLD OR SERVICES RENDERED TO THE COOPERATIVE INCLUDING OTHER INFLOWS OF ASSETS RESULTING FROM ITS OTHER OPERATING ACTIVITIES and which shall be deemed to have been returned to them if the same is distributed as prescribed herein.

Slide 47: 

Remaining Net Surplus after deducting distribution after reserve, education, community devt, and optional Fund The remaining net surplus shall be made available to the members in the form of interest ON SHARE CAPITAL not to exceed the normal rate of return on investments and patronage refunds: PROVIDED, THAT ANY AMOUNT REMAINING AFTER THE ALLOWABLE INTEREST AND THE PATRONAGE REFUND HAVE BEEN DEDUCTED SHALL BE CREDITED TO THE RESERVE FUND.

Slide 48: 

Conversion of Credit Cooperatives To Financial Service Cooperatives EXISTING CREDIT AND MULTI PURPOSE COOPERATIVES WITH SAVINGS AND CREDIT FACILITIES SHALL FORMALLY INFORM THE AUTHORITY OF ITS INTENTION TO CONTINUE PERFORMING ITS PRESENT FUNCTIONS. SHOULD THE SAID COOPERATIVES DECIDE TO EXERCISE ENHANCED FUNCTIONS, IT SHALL NOTIFY THE AUTHORITY AND SATISFY THE REQUIREMENTS FOR CONVERSION TO FINANCIAL SERVICE COOPERATIVE.

Slide 49: 

Conciliation and Mediation Proceedings Disputes among members, officers, directors, and committee members, and intra-cooperative, INTER-COOPERATIVE, INTRA-FEDERATION OR INTERFEDERATION disputes shall, as far as practicable, be settled amicably in accordance with the conciliation or mediation mechanisms embodied in the bylaws of cooperativeS and in SUCH OTHER applicable laws. THE CONCILIATION AND MEDIATION COMMITTEE OF THE COOPERATIVE SHALL FACILITATE THE AMICABLE SETTLEMENT OF INTRA-COOPERATIVE DISPUTES AND DISPUTES AMONG MEMBERS, OFFICERS, DIRECTORS, AND COMMITTEE MEMBERS.

Slide 50: 

Conciliation and Mediation Proceedings Should such conciliation OR mediation proceedingS fail, the matter shall be settled THRU VOLUNTARY ARBITRATION: PROVIDED,HOWEVER, THAT BEFORE ANY PARTY CAN VALIDLY FILE A COMPLAINT WITH THE AUTHORITY FOR VOLUNTARY ARBITRATION, IT MUST FIRST SECURE A CERTIFICATION FROM ITS CONCILIATION AND MEDIATION COMMITTEE AND FROM THE COOPERATIVE UNION OR FEDERATION TO WHICH IT BELONGS THAT DESPITE ALL EFFORTS TO SETTLE THE ISSUES, THE SAME HAVE FAILED. THE JURISDICTION OF THE VOLUNTARY ARBITRATORS SHALL

Slide 51: 

Conciliation and Mediation Proceedings BE EXCLUSIVE AND ORIGINAL AND THEIR DECISIONS SHALL BE APPEALABLE TO THE OFFICE OF THE PRESIDENT. THE AUTHORITY SHALL ISSUE AND ADOPT THE PROPER RULES OF PROCEDURE GOVERNING ARBITRATION AS THE PRIMARY AND EXCLUSIVE MODE FOR DISPUTE RESOLUTION IN ACCORDANCE WITH THE ALTERNATIVE DISPUTE RESOLUTION ACT OF 2004.” FOR THIS PURPOSE, THE AUTHORITY SHALL CONSTITUTE A LIST OF QUALIFIED VOLUNTARY ARBITRATORS.

Slide 52: 

Some New Penal Provisions ANY PERSON WHO WILLFULLY ATTEMPTS IN ANY MANNER TO EVADE OR DEFEAT TAX IN VIOLATION OF THE PROVISIONS OF ARTICLES 60 AND 61 OF THIS CODE SHALL, IN ADDITION TO OTHER PENALTIES PROVIDED BY LAW, UPON CONVICTION THEREOF, BE PUNISHED BY A FINE OF NOT LESS THAN THIRTY THOUSAND PESOS (P30,000.00) BUT NOT MORE THAN ONE HUNDRED THOUSAND PESOS (P100,000.00) AND SUFFER IMPRISONMENT OF NOT LESS THAN TWO (2) YEARS BUT NOT MORE THAN FOUR (4) YEARS: PROVIDED, THAT THE CONVICTION OR ACQUITTAL OBTAINED UNDER THIS SECTION SHALL NOT BE A BAR TO THE FILING OF A CIVIL SUIT FOR THE COLLECTION OF TAXES;

Slide 53: 

Some New Penal Provisions DIRECT OR INDIRECT VIOLATION OR CIRCUMVENTION OF THE PROVISIONS OF ARTICLES 60 AND 61 OF THIS CODE COMMITTED BY ANY PUBLIC OFFICIAL OR EMPLOYEE OF ANY BUREAU, OFFICE OR AGENCY OF THE GOVERNMENT THAT DEPRIVES, DIMINISHES OR IN ANY MANNER HINDERS OR RESTRICTS ANY DULY REGISTERED COOPERATIVE FROM THE FULL ENJOYMENT OF THE EXEMPTION FROM THE PAYMENT OF THE TAXES, FEES AND CHARGES ENUMERATED

Slide 54: 

Some New Penal Provisions THEREIN, SHALL UPON CONVICTION, SUFFER A PENALTY OF NOT LESS THAN ONE (1) YEAR BUT NOT MORE THAN FIVE (5) YEARS IMPRISONMENT OR A FINE IN THE AMOUNT OF NOT LESS THAN FIVE THOUSAND PESOS (P5,000.00) OR BOTH AT THE DISCRETION OF THE COURT AND SHALL FURTHER BE DISQUALIFIED TO HOLD ANY OTHER OFFICE;

Slide 55: 

Some New Penal Provisions THE COOPERATIVE OR ANY OF ITS MEMBERS CAN FILE A CASE AGAINST ANY OFFICER OR EMPLOYEE OF THE BUREAU OF INTERNAL REVENUE OR OF ANY OTHER GOVERNMENT AGENCY WITH THE OMBUDSMAN, CIVIL SERVICE COMMISSION, OTHER APPROPRIATE GOVERNMENT AGENCY OR THE COURTS OF LAW.

Madamo nga S alamat! : 

Madamo nga S alamat!

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