The First Schedule [See section 3(g)]

Cooperative Principles

1. Voluntary and Open Membership

Cooperatives are voluntary organizations, open to all persons capable of using their services and willing to accept the responsibilities of membership, without discrimination on basis of gender, social inequality, racial, political ideologies or religious consideration.

2. Democratic Member Control

Cooperatives are democratic organizations controlled by their members, who actively participate in setting their policies and decision making. Elected representatives of these cooperatives are responsible and accountable to their members.

3. Member’s Economic Participation

Members contribute equitable and control the capital of their cooperative democratically. At least a part of the surplus arising out of the economic results would be the common property of the cooperatives. The remaining surplus could be utilized benefiting the members in proportion to their share in the cooperative.

4. Autonomy and Independence

Cooperatives are autonomous, self-help organizations controlled by their members. If cooperatives enter into agreement with other organizations including Government or raise capital from external sources, they do so on terms that ensure their democratic control by members and maintenance of cooperative autonomy.

5. Education, Training and Information

Cooperative provide education and training to their members, elected representatives and employees so that they can contribute effectively to the development of their cooperatives. They also make the general public, particularly young people and leaders aware of the nature and benefits of cooperation.

6. Cooperation among Cooperatives

Cooperatives serve their members most effectively and strengthen the cooperative movement, by working together through available local, regional, national and international structures.

7. Concern for Community

While focusing on the needs of their members, cooperatives work for the sustainable development of communities through policies accepted by their members.