Australian Capital Territory Repealed Acts

This legislation has been repealed.

COOPERATIVES ACT 2002 (REPEALED) - SECT 68

If a cooperative has a share capital, a person also ceases to be a member in each of the following circumstances:

        (a)     the person's share is transferred to someone else in accordance with the rules of the cooperative, and the transferee is registered as holder in the person's place;

        (b)     the person's share is forfeited under this Act or the rules of the cooperative;

        (c)     the person's share is sold by the cooperative under a power given by the rules of the cooperative, and the purchaser is registered as holder in the person's place;

        (d)     the person's share is purchased by the cooperative under this Act;

        (e)     the amount paid up on the person's shares is repaid to the person in accordance with the rules of the cooperative.