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THE CO-OPERATIVE SOCIETIES ACT
No.20 OF 1998
(PART III, Section 19)
REVISED BY-LAWS
OF THE
ZAMBIA YOUTH MULTI-PURPOSE
(ZYMCOS)
PRELIMINARY – DEFINITION/INTERPRETATION
THESE ARE BY-LAWS RELATING TO THE REGULATIONS OF THE ZAMBIA YOUTH MULTI-PURPOSE CO-OPERATIVE SOCIETY LIMITED, TO PROVIDE FOR MATTERS CONNECTED WITH OR INCIDENTAL TO THE FOREGOING.
In these By-laws, unless the context otherwise requires: -
“ACT” means the Co-operative Societies Act No. 20 of 1998 and any amendments thereto, and/or any other law replacing it.
“BOARD OF DIRECTOR” means the governing body, of the ZAMBIA YOUTH MULTI-PURPOSE CO-OPERATIVE SOCIETY LIMITED to whom the supervision and direction of its affairs are entrusted by the members.
“BY-LAWS” mean these By-laws for the ZAMBIA YOUTH MULTI-PURPOSE CO-OPERATIVE SOCIETY LIMITED.
“CO-OPERATIVE SOCIETY”. Means a co-operative registered by the Registrar of Co-operative under the current Act
“MEMBER” means any person accepted by the Board of Directors in accordance to the qualifications set forth in these by-laws, who is authorized by his or her rights to vote at General Meetings of the Society .
“NON-MEMBER” means any person, an association / organization or institution not being a member that uses the services of the Society to such an extent as provided for in these By-laws.
“PATRONAGE BONUS” means a share of the net-surplus of the Society divided amongst its members in proportion to the use made of the services of the Co-operative Society.
‘‘REGISTRAR” means the Registrar of Co-operatives.
“SOCIETY” means the “Co-operative”, in this respect the ZAMBIA YOUTH MULTI-PURPOSE CO-OPERATIVE SOCIETY LIMITED.
“RESOLUTION” means a resolution passed by a majority of the members at a duly constituted meeting of the Society.
All other words or phases shall be defined or interpreted in accordance with the Co-operative Societies Act No. 20 of 1998 or any Law replacing it.
All questions concerning interpretation or these By-laws or any other matter not provided for herein, errors and omissions shall be referred to the Registrar whose decision thereafter shall be final and conclusive.
PREAMBLE
FULL ON ZYMCOS 2010 IDENTITY
Definition
A Co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and-aspirations through a jointly owned and democratically controlled enterprise.
Values
Co-operatives are based on the values of self-help, self-responsibility, democracy, equality, and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility and caring for others.
Principles
The Co-operative principles are guidelines by which co-operatives put their values into practice.
Ist Principle: Voluntary and Open Membership
Co-operatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination
2nd Principle: Democratic Member Control
Co-operatives are democratic organizations controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. In primary co-operatives members have equal voting rights (one member, one vote) and co-operatives at other levels are also organized in a democratic manner.
3rd Principle: Member Economic Participation
Members contribute equitably to, and democratically control, the capital of their co-operative. At least part of that capital is usually the common property of the Cooperative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing their co-operative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the co-operative; and supporting other activities approved by the membership.
4th Principle: Autonomy and Independence
Co-operatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their co-operative autonomy. -
5th Principle: Education, Training and Information
Co-operatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their co-operatives. They inform the general public – particularly young people and opinion
leaders – about the nature and benefits of co-operation.
6th Principle: Co-operation among Co-operatives
Co-operatives serve their members most effectively and strengthen the co-operative movement by working together through local, national, regional and international structures.
7th Principle: Concern for Community
Co-operatives work for the sustainable development of their communities through
policies approved by their members.
1. NAME AND ADDRESS
1.01 The name of this organisation is
ZAMBIA YOUTH MULTI-PURPOSE CO-OPERATIVE SOCIETY LIMITED hereinafter referred to as the society or the co-operative or ZYMCOS.
1.02 The society’s postal address shall be;
C/O COMESA SME TOOLKIT
COMESA SECRETARIAT
P.O BOX 30051
LUSAKA DISTRICT,
ZAMBIA.
1.03 The Registered Office of the ZAMBIA YOUTH MULTI-PURPOSE CO-OPERATIVE SOCIETY Limited shall be situated at PLOT NO 169/25 OFF KATIMA MULILO ROAD Lusaka District
1.04 EMAIL: zambianyouth2010
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