چکیده:
Joint-stock cooperative company is not recognized in Commercial Code of Iran and the
amendment bill of the Commercial Code adopted in 1968. This business entity has a
unique description because of both being cooperative and having joint stock. It is a jointstock
company that is chartered based on Commercial Code of Iran, amendment bill of
the Commercial Code adopted in 1968, and Principle 44 of the Constitution. Joint-stock
cooperative Qarzol-Hasaneh Bank is not involved with commercial activity; the
maximum share of each real shareholder is equal to half of company’s capital at the time
of establishment and during company’s function. Ministry of Cooperatives and the
Central Bank monitor activities of joint-stock cooperative companies. Joint-stock
cooperative bank like joint-stock cooperative company should be subjected to amended
bill of the Commercial Code adopted in 1968, enforcement Act of general policies of
Principle 44 of the Constitution. Formation of joint-stock cooperative bank is not possible
in practice unless violating the cooperatives regulations and doing activities that are out
of jurisdiction of cooperative companies. It should be noted that cooperative banks are
considered as nongovernmental banks, therefore they must obey regulations expressed in
rules and regulations of non-governmental banks.
خلاصه ماشینی:
1 Definition of Joint-Stock Cooperative Bank In accordance to monetary and banking laws of Iran, establishment and management code of non-governmental banks and credit institutions, Article 1 of executive code of formation and supervision on joint-stock cooperative companies, joint-stock cooperative bank is defined as follow: “A bank that is established based on the monetary and banking law following Clause 9 of Article 1 in the framework of constraints contained in Article 12 of amendment law of Article of Fourth Cultural, Social, and Economic Development Program Law of Islamic Republic of Iran and implementing general policies of Principle 44 of the Constitution obtaining permission from Ministry of Cooperatives and the Central Bank of Islamic Republic of Iran”.
According to first theory, joint-stock cooperative companies have a legal framework distinguished from companies considered in Commercial Code of Iran, because the Enforcement Act of general policies of Principle 44 of Constitution has explicitly introduced these companies as joint-stock cooperative companies and condition of establishment, administration and dissolve are included in amendment bill of Commercial Code 1968.
However, although ownership of individuals in non-governmental banks, financial and credit institutions, and other monetary enterprises is limited in enforcement Act of general policies of Principle 44 of Constitution, this ownership will be limited to this kind of companies if the bank is established as joint-stock cooperative company.
Subject to Article 5 of enforcement Act of general policies of Principle 44 of Constitution, “non-governmental banks, monetary and credit institutions, and other monetary enterprises that are formed before and after approval of this law as well as governmental banks that their stocks are assigned, are permitted to be active only in framework of joint-stock companies and joint-stock cooperative companies.