Cooperatives
Financial and Consumer Services Commission
Overview
The Financial and Consumer Services Commission administers the Cooperatives Act and is responsible for the regulation and the incorporation of cooperatives in the province.
The Cooperatives Act sets out the law applicable to persons who wish to organize, operate and carry-on business on a cooperative basis.
Eligibility
An application for the incorporation of a cooperative under the Cooperatives Act must be made to the Financial and Consumer Services Commission. More information on the requirements to apply for a licence can be found here.
Description
A cooperative is an organization incorporated by three or more persons, or by one or more cooperatives united voluntarily to meet their common economic, social and cultural needs, as well as aspirations through a jointly owned and democratically controlled enterprise. A cooperative is organized and operated on a cooperative basis.
The Financial and Consumer Services Commission provides an online by-law builder to help create by-laws for a cooperative as required under the Cooperatives Act.
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