Australian Capital Territory Repealed Acts

This legislation has been repealed.

COOPERATIVES ACT 2002 (REPEALED) - SECT 262

    (1)     The registrar may, by notice served on a cooperative, give a direction to the cooperative about how it must exercise its functions in relation to the activities of the cooperative in obtaining financial accommodation.

    (2)     A direction under subsection (1) may make provision for any 1 or more of the following matters:

        (a)     requiring the cooperative to cease obtaining financial accommodation or to cease obtaining financial accommodation in a particular way;

        (b)     requiring the cooperative to repay in accordance with the direction all or part of financial accommodation obtained;

        (c)     requiring the cooperative to refinance in a stated way financial accommodation repaid in accordance with the registrar's direction;

        (d)     how the cooperative is permitted to invest or use the proceeds of financial accommodation it obtains.