Queensland Consolidated Regulations

CO-OPERATIVES NATIONAL REGULATION

- Made under the Co-operatives National Law (Queensland)
- As at 1 December 2020
- Reg cnr of 2013

TABLE OF PROVISIONS

CHAPTER 1 - PRELIMINARY
           Editor’s note—

   1.1.    Citation
   1.2.    Definitions
   1.3.    Documents that are not debentures (section 4)
   1.4.    Small co-operative (section 4)
   1.5.    Exclusion of prescribed offices—relevant interest in share or right to vote (section 4 and Schedule 2 clause 13)
   1.6.    Declaration of corresponding co-operatives law (section 7(3))

CHAPTER 2 - FORMATION, POWERS AND CONSTITUTION OF CO-OPERATIVES

   2.1.    Maximum fine fixed by rules of co-operative (section 56(7))
   2.2.    Model rules (section 64)
   2.3.    Notice about bonus shares—certificate of value of assets (section 85)
   2.4.    Disclosure by member of relevant interests and instructions—fee payable to certain persons (section 92(8))
   2.5.    Factors and considerations for deciding primary activities and other matters (section 149)
   2.6.    Register of cancelled memberships (section 166)

CHAPTER 3 - MANAGEMENT AND OPERATION OF CO-OPERATIVES

   3.1.    Automatic disqualification for offences (section 182)
   3.2.    Responsibility of secretary for contraventions by co-operative of specified provisions of the Law (section 191)
   3.3.    Registers to be kept by co-operatives (section 212)
   3.4.    Inspection of co-operative’s registers and other documents (section 214)
   3.5.    Notice of appointment or cessation of appointment of directors and officers to be lodged with Registrar (section 216)
   3.6.    Reports to be lodged with Registrar concerning prescribed particulars (section 218)
   3.7.    Unsuitable names for co-operatives (section 220(5))
   3.8.    Advertising change of name of co-operative (section 224)
   3.9.    Postal ballot (section 247)
   3.10.   Small co-operative—reports where no members’ direction (section 270(3))
   3.11.   Small co-operative—reports where members require audit or review (section 271)
   3.12.   Contents of annual financial report—disclosures required by notes to consolidated financial statements (section 273) (cf Corporations Regulations 2001–regulation 2M.3.01)
   3.13.   Small co-operative—annual reports for members (section 284(2))
   3.14.   Small co-operative—contents of annual return (section 293(3))
   3.15.   Synchronising financial years of co-operative and controlled entities (section 295(4)) (cf Corporations Actsection 323D(3) and (4))
   3.16.   Fundraising—requirements or restrictions on who can deposit money with deposit-taking co-operatives (section 332)
   3.17.   Fundraising—other requirements and restrictions for deposit-taking co-operatives (section 332)
   3.18.   Distribution of surplus or reserves to members—minimum rate of interest for loan when rebate paid as loan to co-operative (section 357(4))
   3.19.   Distribution of surplus or reserves to members—limited dividend (section 357(5))
   3.20.   Acquisition and disposal of assets (section 359)
   3.21.   Notice about voting interest under section 360 (section 362)
   3.22.   Notice about substantial share interest under section 361 (section 362)
   3.23.   Requirements to be satisfied before offer can be made (section 374(2))

CHAPTER 4 - STRUCTURAL AND OTHER EVENTS FOR CO-OPERATIVES

   4.1.    Application for transfer (section 403)
   4.2.    Arrangements and reconstructions—explanatory statements (sections 416 and 427)
   4.3.    Acquisition of shares pursuant to notice to dissenting shareholder—compulsory acquisition notice (section 432)
   4.4.    Remaining shareholders may require acquisition—notice to remaining shareholders (section 434)

CHAPTER 5 - PARTICIPATING CO-OPERATIVES

   5.1.    Application of Law and National Regulations to participating co-operatives (section 463)
   5.2.    Restrictions on advertising and publicity—shares (section 466)
   5.3.    Restrictions on advertising and publicity—debentures or CCUs (section 467)
   5.4.    Information to appear on business and other documents (section 469)

CHAPTER 6 - VACANT

CHAPTER 7 - VACANT

CHAPTER 8 - GENERAL

   8.1.    Register of co-operatives (section 599)
   8.2.    Inspection of register of co-operatives (section 601)
   8.3.    Savings or transitional matters (section 613)
           SCHEDULE 1
           SCHEDULE 2
           SCHEDULE 3
           SCHEDULE 4
           SCHEDULE 5
           SCHEDULE 6
           SCHEDULE 7