A co-operative shall ,in its operations,observe and respect internationally recognised co-operatives and for the purposes of this Act these principles shall be that--
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Owned and Controlled By Members
A co-op is owned and controlled by its members. It exists for the benefit of its members, who may be customers, workers, suppliers or the wider community.
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Financial Contribution
Every member contributes financially in some way – from buying products, working for the co-op, investing in it or deciding how to spend its profits.
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Independent
A co-op is an independent business, owned and controlled by its members.
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Democractic
A co-op is democratic – this means every member has an equal say in how it’s run and how profits are used.
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Education and Training
It offers education and training to everyone involved, so they can develop the co-op and promote the benefits of co-operation.
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Co-operation
It co-operates, works with and supports other co-ops.
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Community
A co-op supports the communities it works with.