Australian Capital Territory Repealed Acts

This legislation has been repealed.

COOPERATIVES ACT 2002 (REPEALED) - SECT 305

    (1)     The registrar may, by notice, direct a cooperative—

        (a)     to transfer its engagements to a cooperative approved in writing by the registrar; and

        (b)     within the period stated in the direction (or, if the registrar allows a further period, the further period), to enter into an agreement approved in writing by the registrar to give effect to the transfer of engagements directed.

    (2)     The registrar may give the direction only if—

        (a)     the necessary grounds exist, under section 338A, for giving the direction; and

        (b)     the grounds are stated, fully or in summary form, in the notice.

    (3)     The transfer of engagements must make provision, in a way approved in writing by the registrar, for members of the transferor cooperative to become members of the transferee cooperative if they wish to do so.

    (4)     If a cooperative fails to comply with a direction under this section, the registrar may elect to treat the failure as the necessary grounds—

        (a)     for the winding-up of the cooperative on a certificate of the registrar; or

        (b)     for the appointing of an administrator of the cooperative.

    (5)     The registrar must give notice to the cooperative of the registrar's decision under subsection (4).

    (6)     The registrar may revoke a direction under this section at any time up until the cooperative has agreed to transfer its engagements in accordance with the direction.

    (7)     The registrar must fix the date the transfer of engagements directed under this section takes effect.

    (8)     An instrument under subsection (7) is a notifiable instrument.

Note     A notifiable instrument must be notified under the Legislation Act

.

    (9)     An officer of a cooperative must take all reasonable steps to ensure that the cooperative complies with a direction given to it under this section.

Maximum penalty: 20 penalty units.

    (10)     An officer of a cooperative must not, by wilful act or omission, cause the cooperative to fail to comply with a direction given to it under this section.

Maximum penalty: 20 penalty units.