OBJECTS 2. For the Financial Conduct Authority. It is registered under the Co-operative and Community Benefit Societies Act 2014 as a bona fide co-operative, registration IP 1585R. But as far as a co-operative society is concerned such disallowance only result in the enhancement in total income which is otherwise deductible u/s 80 P(2)(a)(1) and therefore does not affect the tax liability of the Co-operative society.
Indeed, this is the origin of the “society for the benefit of the community” and the “bona fide co-operative”. (a) a co-operative society, or (b) a community benefit society. b] The Society is a bona fide Society within the meaning of Section 1 (2) of the Industrial and Provident Societies Act 1965 [the "Act"].
1.4 Is membership of the society required to … Societies which may be registered (I) A society may be registered as a co-operative society under this Act if– (a) it is a limited liability society; and (b) has as its objects the promotion of the socio-economic interests of its members in accordance with co-operative principles, and established for the purpose of facilitating the operation of those principles. Law Nos, 5 of …
Date: 4 May 2018 For a co-operative society you could write: ‘[society name] is a Co-operative Society registered under the Co-operative and Community Benefit Societies Act 2014.’ For a community benefit society you could write: ‘[society name] is a Community Benefit Society registered under the Co-operative and Community Benefit Societies Act 2014’. vide CBDT Circular No.37/2016 dated 02-11-2016.
bona fide co-operative society (go to question 1.3) conducts business for the benefit of the community (go to question 1.8) Bona fide co-operative 1.3 How do members benefit from the business industry or trade of the society? (2) The conditions are— (a) that it is shown to the satisfaction of the FCA— (i) in the case of registration as a co-operative society, that the society is a bona fide co-operative society, or -Scottish Co-operative wholesale Society Ltd v Meyer: where the interests of the appointors and the company do not coincide, a nominee director is bound to put the interests of the company ahead of the sectional interest he represents.
ODIN Blockchain is governed by ODIN Society, a non-profit bona fide co-operative registered by Co-operatives UK with the UK Financial Conduct Authority. AND TO CONSOLIDATE AND AMEND THE LAW RELATING TO THE CONST1TUTIONAND CONTROL OF CO-OPERATIVE SOCIETIES AND TO PROVIDE FOR MATTERS CONNECTED THEREWITH AND INCIDENTAL THERETO.
CO-OPERATIVE SOCIETIES CO-OPERATIVE SOCIETIES A LAW TO PROVIDE FOR THE DEVELOPMENT OF CO-OPERATIVE SOCIETIES.