The Cooperative Development Authority (CDA) is granting amnesty to inactive cooperatives in Northern Mindanao to help them comply with legal requirements and avoid penalties.
CDA-10 Director Aminoden Elias said at the Kapihan sa Bagong Pilipinas” forum on Tuesday that the amnesty initiative, introduced last week, allows cooperatives to update their compliance without incurring fines.
“If you avail of the amnesty and comply with all (requirements), you will not be facing penalties,” Elias said.
CDA-10 has about 1,300 active cooperatives on its roster, with only a small and manageable number classified as delinquent, according to Elias.
Under CDA regulations, cooperatives are required to submit reports every two years and fulfill other mandates outlined in circular orders to maintain their active status. (PNA)
