The fresh new cooperative banking institutions entered around that it Code would be underneath the supervision of your BSP
Samahang Nayon and you may MKSN is hereby offered a period of one (1) seasons on the effectiveness associated with Work to accomplish the sales once the cooperatives
“Ways. 96. Oversight. These pointers should promote owed recognition towards the novel nature and you may profile out-of collaborative banking companies. To this end, cooperative banks should promote monetary and you can financial functions to help you the players.
The brand new BSP, up on session to the Expert plus the concerned cooperative markets, shall establish direction regarding the procedures while the governance out-of collaborative finance companies
“Ways. 97. Team, Membership and you can Establishment away from an excellent Collaborative Bank. (1) Cooperative teams properly centered and you will entered under it Code can get organize a beneficial collaborative financial, and this should while doing so qualify an effective collaborative registrable lower than provisions out of this Password susceptible to the requirements and you may requisite authorization regarding BSP.