Australian Capital Territory Repealed Acts

This legislation has been repealed.

COOPERATIVES ACT 2002 (REPEALED) - SECT 18

    (1)     A non-trading cooperative is a cooperative with rules that prohibit it from giving returns or distributions on surplus or share capital to members, other than the nominal value of shares (if any) at winding-up.

    (2)     A non-trading cooperative may have a share capital.

    (3)     A non-trading cooperative must have a membership of—

        (a)     for an association—2 or more cooperatives; and

        (b)     for a federation—2 or more associations; and

        (c)     for any other non-trading cooperative—

              (i)     if a number of active members less than 5 is prescribed by regulation for this paragraph—at least that number of active members; or

              (ii)     in any other case—5 or more active members.