THE MINISTRY OF AQUATIC RESOURCES

CIRCULAR No.01-TT/NC of September 15, 1997 guiding the implementation of Decree No.46-CP of April 29, 1997 of the Government issuing the Model Statute of Aquatic Resource Cooperatives.

Together with the Law on Cooperatives, the Model Statute of Aquatic Resource Cooperatives constitutes legal base for renovating and developing aquatic resource cooperatives along the Party's and State's guidelines and policies on cooperative economy during the period of national industrialization and modernization. This Model Statute applies to cooperatives engaged in the exploitation of aquatic products, aquaculture or business and provision of services for exploitation of aquatic products and aquaculture and registered for operation under the Law on Cooperatives.

The Circular provides guidance on some specific issues: property ownership forms; scales and forms of organization; cooperative membership and shares; distribution of profits; establishment, merger, split and dissolution of aquatic resource cooperatives.- (Summary)