Italian Co-Operative Law Reform and Co-Operative Principles

27 Pages Posted: 27 May 2010 Last revised: 8 Jun 2010

See all articles by Antonio Fici

Antonio Fici

University of Molise; European Research Institute on Cooperative & Social Enterprise (EURICSE)

Date Written: February 1, 2010

Abstract

A reform of Italian co-operative law was passed in 2003 and came into force in 2004.

This paper presents the principal characteristics of the new Italian co-operative law and seeks to evaluate the relationship of some of its main provisions to traditional co-operative principles. From this perspective, the paper deals in particular with the definition of the Italian co-operative as a company with a “mutual purpose”; the distinction between “mainly mutual” co-operatives and “other” co-operatives (and the relationship between mutuality and profit-making in co-operatives); the regulation of voting in the assembly (the “one member, one vote” principle and its exceptions); the available governance systems (“tripartite”, “dualistic”, “monistic”); and co-operative finance solutions (investor members and financial instruments). Using the Italian reforms as a starting point for debate, this paper puts forth the possibility of generalising a modified approach to co-operative regulation and principles, taking into account efficiency issues, while preserving the co-operative identity.

Keywords: co-operative, italian law, corporate governance, co-operative principles, co-operative governance

Suggested Citation

Fici, Antonio, Italian Co-Operative Law Reform and Co-Operative Principles (February 1, 2010). Euricse Working Papers No. 002/2010, Available at SSRN: https://ssrn.com/abstract=1615344 or http://dx.doi.org/10.2139/ssrn.1615344

Antonio Fici (Contact Author)

University of Molise

Via De Sanctis
Campobasso, Campobasso (CB) 86100
Italy

European Research Institute on Cooperative & Social Enterprise (EURICSE) ( email )

Via S. Giovanni 36
38122 Trento (TN)
Italy

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