(1) When an
application is made for registration as a co-operative under this Division,
the Registrar must register the corporation as a co-operative under this Act
and register its rules under this Act if the Registrar is satisfied that the
requirements for registration of the co-operative have been met.
(2) The requirements
for registration as a co-operative under this Division are as follows —
(a) the
proposed rules of the proposed co-operative must be the proposed rules
approved by the Registrar under section 17;
(b) the
requirements of this Act must have been complied with in relation to the
proposed co-operative and compliance must be likely to continue;
(c)
there must be no reasonable cause for refusing registration of the proposed
co-operative;
(d) the
proposed co-operative must have a sufficient connection with this State.
(3) If the Registrar
is not satisfied that the requirements for registration of the co-operative
have been met, the Registrar may refuse to register the co-operative and its
rules and must give to the applicant written notice of the refusal and the
reasons for the refusal.
(4) If the Registrar
has decided under this section to register a corporation under this Act, the
corporation must notify the authority responsible for registering the
corporation under the law under which it was previously registered of that
decision.
(5) Despite anything
to the contrary in this Division, the registration of a corporation as a
co-operative does not take effect until the corporation ceases to be
registered under the law under which it was previously registered.
(6) The corporation
must notify the Registrar in writing within 7 days after ceasing to be
registered under that other law.
[Section 24 amended: No. 7 of 2016 s. 18.]