Cooperatives Rules and Regulations

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16 Questions

What is the purpose of the paragraph regarding implementing rules and regulations in the given text?

To explain the process for issuing regulations to implement provisions of the Code

What is prohibited under the penal provisions mentioned in the text?

Using the word 'cooperative' without proper registration

What are the potential penalties for violating cooperative regulations as per the given text?

Imprisonment of not less than two years and a fine not exceeding P20,000.00

What happens if a person willfully attempts to evade or defeat tax in violation of Articles 60 and 61 of this Code?

They will be punished by a fine but not imprisonment

What is the maximum fine for willfully attempting to evade or defeat tax as per the text?

P100,000.00

Under what conditions can an individual or organization use the word 'cooperative' without proper registration as per Article 130 of the Code?

If they are in the process of registering as a cooperative

What is the penalty for a public official who interferes with the internal affairs of a cooperative of which they are not a member?

All of the above

Under what circumstances can a public official be penalized with imprisonment or a fine?

All of the above

What penalty can a director, officer, or committee member face for violating specific articles related to their roles?

A fine of not less than Five hundred thousand pesos or imprisonment of not less than five years but not more than ten years

What penalty can a person face for providing false information to the Authority?

Imprisonment of not less than one year nor more than five years

What penalty can a person face for omission or refusal to furnish required information?

Imprisonment of not less than one year nor more than five years

What is the penalty for a violation that diminishes or restricts a duly registered cooperative from enjoying tax exemptions?

A fine of not less than Five hundred thousand pesos or imprisonment of not less than five years but not more than ten years

What is the penalty for illegal use of confidential information as per Article 49?

Imprisonment of not less than one year nor more than five years

Under what circumstances can a public official be penalized with imprisonment or a fine, according to the text?

Direct or indirect violation or circumvention of the provisions of Articles 60 and 61 of this Code committee by any public official or employee

What is the penalty for disloyalty to a cooperative as per Article 48?

A fine of not less than Five hundred thousand pesos or both at the discretion of the court

What is the punishment for influencing the election or appointment of officers as mentioned in the text?

None of the above

Test your knowledge of the rules and regulations for cooperatives as outlined in the provided paragraph. Explore the penal provisions and prohibited acts affecting cooperatives.

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