Western Australian Current Acts

CO-OPERATIVES ACT 2009 - SECT 14

14 .         Non-distributing co-operatives

        (1)         A non-distributing co-operative is a co-operative whose rules prohibit it from giving returns or distributions on surplus or share capital to members, other than the nominal value of shares, if any, at winding-up.

        (2)         A non-distributing co-operative may or may not have a share capital.

        (3)         A non-distributing co-operative must have a membership of —

            (a)         for a co-operative group, 2 or more co-operatives; and

            (b)         for any other non-distributing co-operative —

                  (i)         if a lesser number than 5 is approved by the Registrar, at least that number of active members; or

                  (ii)         otherwise, 5 or more active members.

        (4)         An approval under subsection (3)(b)(i) may be given in relation to a particular co-operative or class of co-operatives.

        [Section 14 amended: No. 7 of 2016 s. 10.]