MCC dissolves board of Kosma

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The Malaysian Cooperative Commission has appointed an administrator who will take over the functions and roles of Kosma’s board members. - Pic courtesy of Kosma KUANTAN: The Malaysian Cooperative Commission (MCC) has dissolved the board of Koperasi Serbausaha Makmur Berhad (Kosma) effective Nov 17 last year.MCC has appointed an administrator who will take over the functions and roles of the board members as stipulated under Section 69(2)(a)(i) of the Co-operative Societies Act 1993.MCC, in a statement, said the dissolution under Seksyen 69(1)(iv)(c) of the Co-operative Societies Act 1993 was mainly due to the failure of Kosma to adhere to Section 26(c) Act 502 and clause 11 (2) (c) of the by-laws."The cooperative had breached the law by recruiting 42 members whose addresses were outside Pahang. The issue of hiring members who do not comply with the eligibility conditions h…