On March 3, the Government endorsed a resolution approving the model statutes of the agricultural cooperative - the constituent documents governing their activities.
In particular, the resolution was developed to comply with the Law of Ukraine "On Agricultural Cooperation", which abolished the division of agricultural cooperatives by type into production and service. Instead, a new form of management was introduced - an agricultural cooperative that operates with or without the purpose of earning a profit.
"The updated form of management of agricultural cooperatives will facilitate an increase in their number. After all, the model statute significantly simplifies the procedure for the formation of cooperatives, as well as it offers more attractive economic conditions for their activities. Such changes will aim to strengthen the competitiveness of small and medium-sized agricultural producers united in cooperatives, and in general - the development of the rural economy and rural areas," commented the Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko.
The new constituent documents shall be used to create and operate agricultural cooperatives. In particular, they contain provisions governing the legal status, rights, obligations and relations of members and associate members of the cooperative, related to the establishment, management, conduct of business and termination of agricultural cooperatives.