Co operative principles define membership, democratic governance, economic participation, autonomy, education, inter cooperative collaboration and community duty.

The schedule prescribes seven foundational co operative principles: Voluntary and Open Membership; Democratic Member Control; Member's Economic Participation requiring equitable contribution and collective treatment of surplus; Autonomy and Independence in dealings with external parties; Education, Training and Information for members and representatives; Co operation among Co operatives through collaborative structures; and Concern for Community promoting sustainable development by member adopted policies.

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