FIRST SCHEDULE - CO‑OPERATIVE PRINCIPLES - Multi-State Co-Operative Societies Act, 2002

THE FIRST SCHEDULE [ See section 3( g )] CO OPERATIVE PRINCIPLES 1. Voluntary and Open Membership. Co operatives are voluntary organisations, open to all persons capable of using their services and willing to accept the responsibilities of membership, without discrimination on basis of gender, social inequality, racial, political ideologies or religious consideration. 2. Democratic Member Control . Co operatives are democratic organisations controlled by their members, who actively participate in setting their policies and decision making. Elected representatives of these co operatives are responsible and accountable to their members. 3 . Member s Economic Participation. Members contribute equitably and control the capital of their Co operative democratically. At least a part of the surplus arising out of the economic results would be the common property of the co operatives. The remaining surplus could be utilised benefiting the members in proportion to their share in the Co operative. 4. Autonomy and Independence. Co operatives are autonomous, self help organisations controlled by their members. If co operatives enter into agreement with other organisations including Government or raise capital from external sources, they do so on terms that ensure their democratic control by members and maintenance of Co operative autonomy. 5. Education, Training and Information. Co operatives provide education and training to their members, elected representatives and employees so that they can contribute effectively to the development of their co operatives. They also make the general public, particularly young people and leaders aware of the nature and benefits of co operation. 6. Co operation among Co operatives. Co operatives serve their members most effectively and strengthen the co operative movement, by working together through available local, regional, national and international structures. 7. Concern for Community. While focusing on the needs of their members, co operatives work for the sustainable development of communities through policies accepted by their members.