Functions and responsibilities of the Ethics Committee:
1. Formulate, develop, implement and monitor the code of governance and ethical standards (CGES) to be observed by the members, officers and employees of the cooperative subject to the approval of the board of directors and ratification by the General Assembly
2. Conduct initial investigation or inquiry upon receipt of complaint involving violations of the code of governance and ethical standards
3. Submit report on its recommendation together with the appropriate sanctions to the board of directors for its proper action, or to the remaining members of the board of directors, if the violation is committed by any members of the BOD. Provided that if the remaining members of the BOD fail to act on the report within a period of 30 days or the violation is committed by the majority of the BOD, the audit committee shall act on the same.
4. Perform such other functions as may be prescribed in the by-laws or authorized by the BOD