Australian Capital Territory Repealed Acts

This legislation has been repealed.

COOPERATIVES ACT 2002 (REPEALED) - SECT 260

    (1)     A cooperative may accept money on deposit only as permitted by subsection (2).

    (2)     A cooperative may accept money on deposit if—

        (a)     the cooperative—

              (i)     was authorised by its rules immediately before the commencement of this Act to accept money on deposit; and

              (ii)     remains so authorised; or

        (b)     the cooperative was a deposit-taking corporation immediately before it became a cooperative and it is authorised by its rules to accept money on deposit; or

        (c)     for a merged cooperative—1 or more of the cooperatives involved in the merger was a deposit-taking cooperative immediately before the registration of the merged cooperative and the merged cooperative is authorised by its rules to accept money on deposit.