Cabinet approves change in draft cooperative law

The cabinet Monday approved the draft Cooperatives (Amendment) Bill, 2011 aiming to expedite the 'Vision 2021' programme as the present law is not capable enough to achieve the target, reports UNB. The cabinet took the decision at its regular weekly meeting held at Cabinet Division in the Secretariat with Prime Minister (PM) Sheikh Hasina in the chair. PM's Press Secretary Abul Kalam Azad briefed the journalists after the meeting at PID conference room. He said the original Act was amended slightly in 2002. But it appeared to the cabinet that the present Act would not be enough for them to achieve the Vision 2021 programme of the government. In the draft the provision for enlistment was made easier. There is also a provision to cancel the registration. Meanwhile, according to bdnews24.com, in the amended law, some measures were taken for the registration of the cooperative societies, cancellation of registration and some preventive measures, so that cooperative society members could not be cheated, he added.