Government Targets Cooperative Draft Bill to be Finalized Soon

The government is targeting the discussion of the Draft Bill (“Cooperative Draft Bill”) on the Fourth Amendment to Law No. 25 of 1992 on Cooperatives (“Law 25/1992”) to be completed next month. The government will also prepare derivative regulations in the form of Government Regulations.

“Early June,” said Deputy Minister of Cooperatives Ferry Juliantono to Hukumonline. He hopes this law will comprehensively cover all sectors of cooperatives.

Several issues discussed in the framework of the regulation include multi-party cooperatives, deposit insurance institutions (lembaga penjaminan simpanan - “LPS”) for savings and loan cooperative customers, improving the status of the Indonesian Cooperative Council as the sole cooperative movement organization, and expanding the scope of cooperatives in the form of business entities and the real sector.