Under what circumstances can the Competent Authority dissolve the BOD of a Cooperative Association and appoint a new one?
The Competent Authority can dissolve the BOD of a Cooperative Association and appoint a new one on its own initiative, based on a report from the Auditor or the supervisory Authorities, or upon the request of at least 10% of the members of the Cooperative Association. The newly appointed BOD can serve for a maximum period of three years.