A CRITICAL ASSESSMENT OF THE IMPORTANCE OF STUDYING CO-OPERATIVE LAWS AND RULES AS A QUALIFYING COURSE FOR THE AWARD OF THE ORDINARY NATIONAL DIPLOMA IN CO-OPERATIVE ECONOMICS AND MANAGEMENT. A RESEARCH PROJECT MATERIAL ON CO-OPERATIVE ECONOMICS
This research is channeled towards studying critically the origin, reasons, importance and the problems affecting the co-operative laws and rules. It specifically dealt with different sections of the co-operative laws and rules and their importance or otherwise the growth of the co-operative.
This law is passed to convey government recognition of co-operative societies as a desirable way of doing business for Nigerians in general, but more particularly those with a felt need.
Its prime objective is to provide self-help efforts to the people in the social, cultural and economic fields.
Government appreciates the role of International Co-operative Alliance (I C A), however, in identifying and enunciating the principles by which co-
operative in the whole world can best achieve their goals and retain their peculiar co-operative circle. This law is intended to translate those principles into legal norms and give them legal enforcement.
Government, therefore wishes to use the co-operative Act to according to legal recognition to co-operative and promote and exist them to operate successfully.
All the sections in this project is collected from Eastern Nigeria Co-operative Societies Decree 1993.
BACKGROUND OF THE STUDY
Co-operative law are those legislative enactment aimed at regulating and directing the activities of Co-operative Societies. It guides the ruling, formation of co-operative enterprises, so that it enables their activities to be stable, effective and efficient for the successful operation of a given co-operative society.
The Co-operative originated in Nigeria in 1935 under the NO. 39 Ordinance, while the rules follows in 1936. Both applied the rules follows in 1936. Both applied to the whole locating, then colony and protectorate of Nigeria. In 1952, the country was divided into 3 regions, North, West and East and co-operative was made a regular subject. Each adapted the 1935 ordinance with necessary amendments. In August, 1977, the then Federal Commissioner for Co-operative and Supply, Alhaji U.A Mutallh, set up a panel to review and unite the Nigeria co-operative society laws and rules with J.T Catlow Idowu as chairman.