Victorian Numbered Acts

CO-OPERATIVES AND PRIVATE SECURITY ACTS AMENDMENT ACT 2008 (NO. 13 OF 2008) - SECT 17

After Schedule 6 to the Co-operatives Act 1996 , insert the following Schedules—

" SCHEDULE 7

Section 378

APPLIED CO-OPERATIVES PROVISIONS

            1     Provisions applicable to participating co-operatives

The following provisions apply to participating co-operatives—

        (a)     Division 4 (Application of Corporations Act to co-operatives) of Part 1 (Preliminary) (other than section 9);

        (b)     section 252 (Name to include certain matter);

        (c)     section 261 (Registrar's directions re: fundraising);

        (d)     section 425 (Information and evidence);

        (e)     section 426 (Extension or abridgment of time);

        (f)     Part 17 (Offences and proceedings);

        (g)     section 460 (Service on member of co-operative);

        (h)     section 461 (Reciprocal arrangements);

              (i)     section 463 (Regulations) .

        2     Provisions applicable to non-participating co-operatives

The following provisions apply to non-participating co-operatives—

        (a)     Division 3 (The co-operative principles) and Division 4 (Application of Corporations Act to co-operatives) of Part 1 (Preliminary) (other than section 9);

        (b)     section 13(2);

        (c)     section 14 (Trading co-operatives);

        (d)     section 15 (Non-trading co-operatives);

        (e)     Part 3 (Legal capacity and powers);

        (f)     section 84 (Transfer of share or interest on death of member);

        (g)     section 85 (Transfer of small shareholdings and interests on death);

        (h)     Division 5 (Oppressive conduct of affairs) of Part 4 (Membership);

              (i)     section 106 (Effect of rules);

        (j)     section 108 (Purchase and inspection of copy of rules);

        (k)     section 109 (False copies of rules);

    (1)     section 250 (List of members to be furnished at request of Registrar);

        (m)     section 251 (Special return to be furnished at request of Registrar);

        (n)     section 252 (Name to include certain matter);

        (o)     Division 1 (Power to raise money) of Part 10 (Funds and property);

        (p)     Part 13 (Arrangements and reconstructions);

        (q)     section 425 (Information and evidence);

        (r)     section 426 (Extension or abridgment of time);

        (s)     Part 17 (Offences and proceedings);

        (t)     section 460 (Service on member of co-operative);

        (u)     section 461 (Reciprocal arrangements);

              (v)     section 463 (Regulations) .

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SCHEDULE 8

Section 386

MODIFICATIONS TO CORPORATIONS ACT

Modifications to winding up provisions

Parts 5.4B and 5.6 of the Corporations Act apply with the following modifications—

        (a)     a reference in those Parts to ASlC is to be read as a reference to the Registrar; and

        (b)     a reference in those Parts to an application to wind up a company under section 464 or Part 5.4A is to be read as a reference to an application by the Registrar under Division 4 of Part 14 of this Act; and

        (c)     a reference in those Parts to a winding up ordered by the Court under a provision of Part 5.4A is a reference to a winding up ordered by the Court under Division 4 of Part 14 of this Act; and

        (d)     a reference in those Parts to an order under a provision of Part 5.4A is a reference to an order under section 385 of this Act; and

        (e)     for the purposes of an application by the Registrar to wind up a foreign co-operative, those Parts apply, with such modifications as the circumstances require, as if a winding up application had been made by the co-operative; and

        (f)     those Parts apply as if a ground specified in section 385 of this Act were a ground for winding up by the Court specified in section 461 of the Corporations Act; and

        (g)     a reference in those Parts to an official liquidator is to be read as a reference to a person approved by the Registrar as a liquidator of a co-operative; and

        (h)     sections 467(4) and (5), 480(d), 481(5)(b), 513B, 517, 518, 523 and 524 do not apply; and

              (i)     a reference in section 485(2) to persons entitled to any surplus is a reference to a person entitled to the surplus under section 387 of this Act; and

        (j)     section 516 is to be read as if the words "together with any charges payable by the member to the co-operative in accordance with the rules" were inserted after "past member"; and

        (k)     Subdivision C of Division 6 of Part 5.6 does not apply; and

    (1)     a reference in those Parts to section 233 (Orders the Court can make) is to be read as a reference to Division 5 (Oppressive conduct of affairs) of Part 4 of this Act; and

        (m)     those Parts are to be read subject to sections 76 (Liability of members to co-operative) and 322 (Liability of member to contribute in a winding up where shares forfeited etc) of this Act for the purposes of determining the liability of members and past members to contribute on a winding up of a co-operative; and

        (n)     any other modifications (within the meaning of Part 3 of the Corporations (Ancillary Provisions) Act 2001 ) that are prescribed by the regulations.".

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