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Co operative society organisation

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Co operative society organisation

    • Posted by Arsh Amrit 3 years, 1 month ago

    CBSE > Class 11 > Business Studies
    • 1 answers

    Sia ? 3 years, 1 month ago

    Difference between Co-operative society and Company:

    Basis of difference Co-operative society Company
    (i) Regulations It is governed by the Co-operative Society Act, 1912. It is governed by the Companies Act, 2013.
    (ii) Transfer of share The members of co-operative societies cannot transfer their shares. Shares can be easily transferred in case of a public company but not in the case of a private company.
    (iii) Aim The main aim of a co-operative society is to render services to its members. The word cooperative means working together and with others for a common purpose The main aim of a company is to earn profits.
    (iv) Number of members Minimum 10 members are required to form a co-operative society, while there is no limit on the maximum number of members. For private company: Minimum-2, Maximum-200, For public company-Minimum-7, Maximum-No limit.
    (v) Control Managed and controlled by the elected managing committee. Managed and controlled by the Board of Directors.
    (Vi) Government support Support in the form of low taxes, subsidies, loans at a low rate of interest, etc are provided by the government. No government support is provided to companies.

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