Australian Capital Territory Repealed Acts

This legislation has been repealed.

COOPERATIVES ACT 2002 (REPEALED) - SECT 238

    (1)     A director of a cooperative is not required to declare, under this division or the rules of the cooperative, an interest in—

        (a)     a contract or proposed contract for a purchase of goods and services by the director from the cooperative; or

        (b)     a lease of land to the director by the cooperative; or

        (c)     a contract or proposed contract for the sale of agricultural products or livestock by the director to the cooperative; or

        (d)     a contract or proposed contract that, under the rules of the cooperative, may be made between the cooperative and a member; or

        (e)     a contract or proposed contract of a class of contracts prescribed by regulation.

    (2)     This section applies only if the contract is made honestly, in the ordinary course of the business of the cooperative, and on the conditions that are usual and proper in similar dealings between the cooperative and its members.