Australian Capital Territory Repealed Acts

This legislation has been repealed.

COOPERATIVES ACT 2002 (REPEALED) - SECT 275

    (1)     If authorised by the rules of a trading cooperative, any part of the surplus arising in any year from the business of the cooperative may be credited to anyone who is not a member, but is qualified to be a member, by way of rebate in proportion to the business done by the person with the cooperative, if—

        (a)     the person was a member at the time the business was done and the membership has lapsed; or

        (b)     the person has applied for membership after the business was done.

    (2)     This section does not prevent the payment of a bonus to an employee in accordance with the conditions of the employee's employment.