SECTION ISSUES

INDICATION OF PROBATION STATUS

13 QUALIFICATION OF MEMEBERS

CREDIT COMMITTEE

BANK ACCOUNT

CREDIT POLICIES

LEGAL ENVIRONMENT
PART VII SPECIAL PROVISIONS
a)Acquire, lease, hold, assign,mortgage or dispose property/assets
SEC 55A(4) FUNCTIONS OF A SACCO
SEC 55A(4) FUNCTIONS OF A SACCO b)Enter into contracts
c) Institute and defend against lawsuits and other legal proceedings
d) mobilize deposits and borrow amounts not exceeding the prescribed paid up capital ceiling
e) Accept members' deposits, provide loans and other financial services
f) Operate an office subjected to inspection by the registra
g) Collect, receive and disburse money transfers using the most appropriate technology within
members of the SACCO and other automated devices and charge fees accordingly
h) Act as a trustee, accept in trust real and personal properties
i) Purchase and make available varous forms of insurance
j)
OBJECTIVES DELIBERATE ACTION TIMEFRAME/LINES
comply to regulations Identify and open suitable office premises End of april 2024

Make Sign posts which includes ''Registered

probationary'' and place it at a conspicious position
comply to regulations outside the society's premises End of april 2024
Include ''Registered probationary'' on all letter heads ,
comply to regulations notices, and official publication End of april 2024

Establish with clarity the geographical scope of the

SACCO; Recruit and assign mobilizers to respective
designated zones. Draw a schedule to conduct
Promote registration and drive membership mobilization/sensitization campaigns in these zones April-June 2024

credit committee of 5(from within the Board) 1ST Board Meeting in

Comply to regulation and set SACCO to disburse loans constituted early April 2024

Apply to open an account in Centenary bank as per GM

resolutions, transfer all SACCO monies to new bank
Comply to regulation and ensure safety of SACCO funds account Ist week of April 2024

Bench mark with established and successful SAACOs

Comply to regulation and ensure clear, simple efficient and and other similar organisations to observe and
transparent; loan documentation,disbursement and maintain industrial standards. Consult legal experts
recovery processes before drafting policy for GM approval April-June 2024

Need for team to be conversant with legal documentations

and appreciate requirement for compliance. Reviewing Brainstorming session within the Board on; critical
previous minutes of the GM and Temporary board for sections of the Act , and bye laws Avail copies of the bye
information, consistency in action and charting way foward laws, the act to board members, and Supervisory board Ist week of April 2024
leverage on and exploit opportunities offer of agency
banking and mobile money services
 CONSEQUENCE FOR NONE
RESPONSIBILITY CENTRE COMPLIANCE
Board Committee

Board Committee Fine of 10,000UGX upon

detection, and 10,000UGx
for every day of continued
Secretary Board breach after notification

Board Committee

Board Committee

Board Committee, GM

Board Committee, DCO, GM

Board Committee