LAW OF THE KYRGYZ REPUBLIC

of July 26, 2018 No. 70

About introduction of amendments to the Law of the Kyrgyz Republic "About cooperatives"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 28, 2018

Article 1.

Bring in the Law of the Kyrgyz Republic "About cooperatives" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2004, No. 10, the Art. 436) the following changes:

1) in Article 20:

a) state Item 8 in the following edition:

"8. The member of council of cooperative at the same time cannot be the board member, the chairman of the board or the member of audit committee. The charter of cooperative can contain the additional bases of restriction of membership in the specified bodies.";

b) add Article with Items 9 and 10 of the following content:

"9. The board members of cooperative who showed willingness to leave its structure cannot be elected in council of cooperative before acceptance by general meeting of members of cooperative of the decision on the termination of their powers.

10. When carrying out on general meeting of members of cooperative of elections of members of council of cooperative the chairman of the board and board members have no right to make offers on such candidates.";

Article 21 to add 2) with Item 8 of the following content:

"8. The questions carried to competence of council of cooperative cannot be transferred to them to the decision of executive body of cooperative.".

Article 2.

This Law becomes effective after seven days from the date of official publication.

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