Don Wee on Co-operative Societies (Amendment) Bill

Co-operatives (co-ops) are different from other business entities as they are based on members working towards common economic and social objectives, and it is imperative that legislative changes enhance transparency, accountability and good governance, said MP Don Wee. Speaking in Parliament on Wednesday (Apr 3), he noted that the proposed amendments seek to address several key areas, such as broadening the use of the reserves by co-ops. He said while these amendments represent progress towards enhancing the regulatory framework for co-ops, there are certain aspects that warrant further scrutiny and deliberation. He wanted to know more about the criteria and considerations for the Registrar’s approval and the measures to ensure accountability and transparency in the decision-making process.