KATHMANDU: The government has issued a new directive through the Department of Cooperatives, mandating that individuals can hold directorship positions in only one cooperative at a time. This directive aligns with Section 41(5) of the Cooperatives Act, 2074, which specifically limits directors to serving in a single cooperative.
According to the circular, individuals currently holding directorship in multiple cooperatives must choose one position within 30 days of the directive's issuance. Failure to adhere to this requirement will lead to legal consequences, as specified in the department's communication.
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