Minister with responsibility for Cooperatives, Frederick Stevenson, said the current Cooperative Societies Act was the result of a high level of consultation with the local cooperative sector.
He was speaking at this morning’s opening of a Credit Union Legislation Workshop being hosted by the SVG Co-operative League in conjunction with the Caribbean Confederation of Credit Unions.
Minister Stevenson said the Act, which was revised in 2012, sought to improve on the previous legislation given the changes in the global financial landscape.
Minister Stevenson said the bill was revamped to be more consistent with other countries in the region.
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