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Implementing Rules and regulations of RA 9520

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IRR of RA 9520

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Implementing Rules and regulations of RA 9520

  1. 1. SALIENT POINTS IN THE REVISED IMPLEMENTING RULES AND REGULATIONS OF R.A. 9520 CDA Dagupan Extension Office
  2. 2. NOTE: Those words and phrases highlighted in orange are the changes effected by the IRR CDA Dagupan Extension Office
  3. 3. • The Cooperative Development Authority scored a landmark victory with the signing of the Revised Rules and Regulations Implementing Certain and Special Provisions (IRR) of the Philippine Cooperative Code of 2008, otherwise known as R.A. 9520, on March 18, 2015 by Senator Manuel M. Lapid, Chair, Senate Committee on Cooperatives, and Cong. Cresente C. Paez, Chair, House Committee on Cooperatives, at the Legend Hotel, Manila.
  4. 4. • After almost three years of rigorous work on the amendments of the Cooperative Law that started in the last quarter of 2012 marked by numerous consultations with the cooperative sector, different government agencies, the Congress and Senate, the law is finally approved and set for implementation fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation. •
  5. 5. Among the highlights of the amendments of the proposed IRR are as follows: • Inclusion of new terms defined including the re-definition and enhancement of terms as used in the IRR; • Re-structuring the relationship between the subsidiary cooperative and its parent cooperative; • Restrictive approach to the registration of Multipurpose cooperative; • Re-engineering the concept of laboratory cooperative and its relationship with its guardian cooperative; • Re-packaging the training requirements for officers of the cooperative as defined in RA 9520; • Simplifying the reportorial requirements for cooperatives and rationalizing the reports submitted to CDA; • Re-polishing the guidelines on Voluntary Arbitration; • Simplifying and clarifying the roles of partner agencies in the registration and regulation of cooperatives i.e. electric cooperatives, insurance cooperatives, transport service cooperatives;
  6. 6. INTEREST ON SHARE CAPITAL Interest earned by the members’ paid-up capital computed by multiplying the rate of interest on share capital by member’s average shares. rate of interest on share capital is computed by dividing the amount allocated for the total interest on share capital by the monthly average share. (total average share month) Definition of Terms:
  7. 7. REVOLVING CAPITAL •Amount constituting the patronage refund and interest on share capital of the members, the payment of which has been deferred by the cooperative. •Corresponding revolving capital certificate shall be issued to the members.
  8. 8. COOPERATIVE BANK •A cooperative organized primarily to provide a wide range of financial services to cooperatives and their members.
  9. 9. INSURANCE-LIKE ACTIVITY •refers to any activity involving regular collection of premiums, fees, contributions, or charges prior to the occurrence of a contingent event and the payment of guaranteed benefits upon the occurrence of such event. •The term excludes risk pooling practices such as “damayan” or “abuloy’ system wherein an individual or group of individuals voluntarily pledge and contribute a certain amount of money to a fund and the benefits are not pre-determined but are contingent to amounts collected.
  10. 10. LABOR SERVICE COOPERATIVE •refers to a cooperative that is engaged in providing a specific labor, job, or service to a principal under a contracting or subcontracting arrangement as may be defined under existing laws and in accordance with the cooperative principles set forth under R.A. 9520
  11. 11. ELECTION DEPUTIES •refers to members from each sector, chapter or district duly elected during the general assembly meeting approving the adoption of the representative assembly who will conduct the election of the sector, chapter or district.
  12. 12. SERVICE COOPERATIVE •refers to 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.
  13. 13. WORKERS COOPERATIVE • organized by workers, including the self- employed, who are at the same time the members and owners of the enterprise.
  14. 14. RULE 1 - REPRESENTATIVE ASSEMBLY • Applies to a cooperative with numerous and dispersed membership opting to conduct its general assembly meeting by way of representative assembly as provided for under Art. 5 (2) and (10) of R.A. 9520 • Adoption of representative assembly shall be stipulated in their by-laws. • Number of the members of the cooperative shall be at least one thousand (1000)
  15. 15. • Number of elected representatives of a sector, chapter or district as provided in the by-laws and shall be within the range of 1% to 10% of the total number of the regular members entitled to vote in the sector, chapter or district. [which shall not be less than one hundred (100) members.] • The term of office of the Representative or Delegate shall be provided in the by-laws. It shall not exceed two (2) years, commencing on the first regular representative assembly meeting
  16. 16. RULE 2 - SUBSIDIARY COOPERATIVE A parent cooperative may organize a subsidiary cooperative provided: •It has a total net worth of at least Fifty Million Pesos (50,000,000.00) as shown in its latest Audited Financial Statement. (10,000,000.00) •The dissolution of either cooperative shall not affect the existence of the other. •In case of dissolution of the parent cooperative, the Subsidiary Cooperative shall subsequently amend its cooperative name to remove the words “Subsidiary Cooperative of (Name of Parent Cooperative)”.
  17. 17. RULE 3 - MULTI-PURPOSE COOPERATIVE •No cooperative shall be registered as a multi- purpose cooperative unless it has been in operation for at least two (2) years. (Any newly organized primary cooperative may be registered as multi-purpose cooperative only after compliance with the minimum requirements for multi-purpose cooperatives to be set by the Authority.)
  18. 18. RULE 4 - DIVISION OF COOPERATIVES • In addition to the regular requirements for registration of cooperatives, a written approval or recommendation from the concerned government agency, if applicable, shall be filed with the Authority.
  19. 19. RULE 5 - PROCEDURE FOR MERGER OR CONSOLIDATION • Duly approved board resolution of each constituent cooperatives to enter into merger or consolidation; • Calling of a General/Representative Assembly to present and approve the Proposal and Plan of Merger or Consolidation of each constituent cooperative an the Amendment/New Articles of Cooperation and By-laws; • Execution of a Memorandum of Understanding to Merge or Consolidate, stating the creation of a joint committee to formulate the plan and proposal to merge or consolidate.
  20. 20. RULE 7 - FUNCTIONS, RESPONSIBILITIES AND TRAINING REQUIREMENTS OF DIRECTORS, OFFICERS AND COMMITTEE MEMBERS TRAINING REQUIREMENTS OF COOP OFFICERS • All officers of the cooperative are required to undergo a minimum of sixteen (16) hours of training on the fundamentals of cooperatives AND another sixteen (16) hours on governance and management of coops within the first half of their term. • Wilful failure of any officer/s of a coop to undergo the prescribed trainings shall disqualify said officers to hold any elective or appointive position. • Wilful failure of the coop to comply with the training requirements despite due notice from the Authority shall be a ground for non- issuance of Certificate of Compliance for the next succeeding year.
  21. 21. RULE 7 - FUNCTIONS, RESPONSIBILITIES AND TRAINING REQUIREMENTS OF DIRECTORS, OFFICERS AND COMMITTEE MEMBERS TRAINING REQUIREMENTS OF THE OFFICERS OF Micro Cooperatives • The officers are only required to undergo sixteen (16) hours of training on the fundamentals, governance and management of cooperatives. The content of the training program shall be prescribed by the Authority in consultation with the accredited training providers. (mandatory 14 courses)
  22. 22. RULE 7 - FUNCTIONS, RESPONSIBILITIES AND TRAINING REQUIREMENTS OF DIRECTORS, OFFICERS AND COMMITTEE MEMBERS TRAINING REQUIREMENTS OF THE OFFICERS OF Cooperatives engaged in Savings and Credit Operations The officers shall be required to undertake additional sixteen (16) hours of specialized training on financial management, risk management and credit management provided that these cooperatives have at least Five Million Pesos (P5,000,000.00) worth of a deposit liabilities based on the latest audited financial statement of the cooperative.
  23. 23. RULE 8 - REPORTS REQUIRED FOR COOPERATIVES • Submit annual Cooperative Annual Progress Report (CAPR) with the following attachments: * Social Audit Report (SAR); * Performance Audit Report (PAR), including copies of the semi-annual report on mediation and conciliation; * Audited Financial Statement (AFS); and * List of Officers and Trainings Undertaken/Completed. o CAPR including all of the reports shall be part of the report of the cooperative to its members during the annual general assembly meeting.
  24. 24. RULE 8 - REPORTS REQUIRED FOR COOPERATIVES • Cooperatives with assets of three million pesos (P3,000,000.00) and below are exempted from penalties. But shall not be issued a Certificate of Compliance for non-submission of the required reports. • In addition to the CAPR and its attachments, ELECTRIC COOPERATIVES are required to submit List of Members issued with share capital certificate
  25. 25. RULE 8 - REPORTS REQUIRED FOR COOPERATIVES Sanction for Delayed Submission • Failure to file the required regular reports with the corresponding attachments on time shall subject the Accountable Officers to a fine of one hundred pesos (P100.00) per day of delay. • Delay shall commence on the day following the last day prescribed for filing the report. • Partial compliance shall be considered non-compliance and the coop shall be in delay until fully complied with.
  26. 26. RULE 10 - CAPITALIZATION AND ACCOUNTING PROCEDURES OF COOPERATIVES • Issuance of preferred share capital shall be prescribed in the by-laws and it shall not exceed twenty five (25%) of the total authorized capital of the cooperative. • A Subscription Agreement shall be executed upon the admission of a member in the coop and whenever additional subscription is desired, it shall be made after the member has fully paid his initial subscription. • Share Certificates shall be issued by the cooperatives at the end of every calendar year based on the number of shares fully paid for the said period.
  27. 27. The implementation and effectivity of these IRR shall be subject to the Memorandum Circulars that may be issued by CDA, and any other processes that may be required to be undertaken)
  28. 28. The Board of Administrators Cooperative Development Authority NELON B. ALINDOGAN Administrator PENDATUN B. DISIMBAN Administrator MERCEDES D. CASTILLO Administrator EULOGIO T. CASTILLO, Ph.D. Administrator – Officer-In-Charge
  29. 29. THANK YOU

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