Is it permissible for a cooperative society to establish subsidiaries?

Is it permissible for cooperative societies to establish companies or transform into a company?

Federal Decree Law No. 6 of 2022 regarding cooperatives, which will enter into force at the end of next November, stipulates that cooperative societies may establish companies in any form in accordance with the specific requirements and procedures of the competent authorities, and taking into account the cooperative statute, the cooperative after obtaining On the approval of the competent authority, it may acquire shares of other companies and cooperatives, and it may also acquire, establish or participate in the establishment of commercial companies or cooperatives, whether alone or with third parties.