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NORDIC COOPERATIVE NETWORK CONFERENCE OPEN SEMINAR: THE NORDIC CO-OPERATIVE MODEL

New Cooperative Act in Finland - Major and fundamental changes, and their impact in practice Jarmo Hanninen, Coop Finland. NORDIC COOPERATIVE NETWORK CONFERENCE OPEN SEMINAR: THE NORDIC CO-OPERATIVE MODEL Reykjavík, Iceland – March 21, 2014. Long tradition of cooperative legislation.

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NORDIC COOPERATIVE NETWORK CONFERENCE OPEN SEMINAR: THE NORDIC CO-OPERATIVE MODEL

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  1. New Cooperative Act in Finland - Major and fundamental changes, and their impact in practiceJarmo Hanninen, Coop Finland NORDIC COOPERATIVE NETWORK CONFERENCE OPEN SEMINAR: THE NORDIC CO-OPERATIVE MODEL Reykjavík, Iceland – March 21, 2014

  2. Long tradition of cooperativelegislation • FirstCooperative Act 1901 • Sincethenonlytwomajorchanges: 1954 and 2001 • Specialcharacteristic is thatcooperative is a special, registeredorganisationform: cooperative • Basic featureshavebeen the sameover 110 years, untilnow • Based on cooperativeprinciples, and mandatorystipulationsguaranteethis • The purpose of a coopwas to servemembers’ needs

  3. Harmonizing with Limited LiabilityCompanies Act • Earlieractswereparallel to cooperativeprinciples • The new act (1.1.2014-) follows the structure and content of Limited LiabilityCompanies Act • New legislationdoesn’tsteercooperatives to followcooperativeprinciples • Cooperationdependstotally on the will of the members: the rules (by-laws) of the cooperative

  4. Critics and possibilities • Introducing the possibility to usestocks in coop’s capital hasraiseddebatehow to maintaincooperativeidentity • Therearedoubtsabout the feature thatevenonlyone person (due to equalright to trade!) canestablish and run a coop • Positiveoutcome is thatimplementing the act cooperativelyrequiresstrongemphasis and knowledge on the specialcharacteristics of cooperation • This is a challenge for cooperativeorganisations and advisors

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