Australian Capital Territory Repealed Acts

This legislation has been repealed.

CO-OPERATIVE SOCIETIES ACT 1939 (REPEALED) NO 9 - SECT 45

    (1)     A society may (if authorised by its rules) make a contract with a member—

        (a)     in relation to specified dealings between the member and the society for a fixed period; and

        (b)     with provision for payment by the member to the society of specified sums as liquidated damages for the breach of any term of the contract.

    (2)     A contract under subsection (1) may require a member to sell products through or to the society, or to obtain supplies or services through or from the society.

    (3)     For section 28, a sum referred to in subsection (1) (b) is a debt due from the member to the society.

    (4)     A contract under subsection (1) is binding on the society and all other parties to the contract notwithstanding that (except for this Act) the contract would be invalid as being in restraint of trade.

    (5)     If a society is authorised by its rules to have any dealings with a member, the society shall, unless the rules otherwise provide, be deemed to be authorised to have similar dealings with any person who applies and is qualified to be a member.