Euskadi Approves New Cooperative Law Regulation to Boost Social Economy

The Government Council of Euskadi has approved new regulations to the Cooperative Law aimed at strengthening the social economy and adapting cooperatives to contemporary challenges. Proposed by the Department of Economy, Labor, and Employment, the regulation updates legal frameworks to enhance legal security and competitiveness for cooperatives in the region.

Key provisions include clear rules on participation, withdrawal, reimbursement of contributions, and loss allocation within cooperatives. The regulation establishes new legal structures to facilitate cooperative creation in emerging sectors and promotes gender equality in governance bodies.

Additionally, the regulation allows cooperative assemblies to be held digitally, addressing the need for modernized meeting practices. It also permits the mandatory cooperative education and promotion fund (COFIP) to be allocated for disaster relief efforts, such as those related to recent natural events.

This regulatory reform builds upon Law 11/2019 and incorporates extensive input from major sector organizations, including the Confederation of Cooperatives of Euskadi (Konfekoop). According to the Government Council, these reforms solidify the cooperative business model as a key driver for economic development and social cohesion, ensuring stronger legal protections and adaptability in a changing economic landscape.