Western Australian Current Acts

CO-OPERATIVES ACT 2009 - SECT 136

136 .         Nature of share in co-operative

        (1)         A share or other interest in a co-operative —

            (a)         is personal property; and

            (b)         is transferable or transmissible as provided by this Act and the rules of the co-operative; and

            (c)         is, subject to the rules of the co-operative, capable of devolution by will or by operation of law.

        (2)         Subject to subsection (1) —

            (a)         the laws applying to ownership of and dealing with personal property apply to a share or other interest of a member in a co-operative as they apply to other property; and

            (b)         equitable interests in respect of a share or other interest of a member in a co-operative may be created, dealt with and enforced as in the case of other personal property.

        [Heading inserted: No. 7 of 2016 s. 35.]