Co-operative education

(1) Every co-operative shall include in its annual budget, a provision for expenses on member and potential member education and staff and Board training for the development of the co-operative in accordance with the principles and practices of cooperation. (2) Any balance under the budget head provided for under sub-section (1) shall be transferred at the end of the year into a co-operative education fund, and may be used only for the purpose of educating and training members, potential members, staff and Directors in co-operative principles and practices.