Western Australian Current Acts Western Australian Current Acts (1) The financial year
of a co-operative ends on the day in each year that is provided for by the
rules of the co-operative.
(2) In the case of a
co-operative registered under Part 2 Division 4, the first financial year of a
co-operative may extend from the date of its registration to a date not more
than 18 months after its registration.
(3) In the case of a
co-operative registered under Part 2 Division 5, the first financial year of
the co-operative is to be a period not extending beyond a date that is 18
months after the end of the co-operative’s last financial year before
the co-operative registered under this Act.
(4) On an alteration
of the rules of a co-operative amending its financial year, the alteration may
provide either —
(a) that
the current financial year (as at the date of the amendment) is to be extended
for not more than 6 months; or
(b) that
the next financial year is to be for a period of more than one year but not
more than 18 months.
(5) Without
limitation, the regulations may make provision for or with respect to
requiring the adoption by a co-operative of the same financial year for each
entity that the co-operative controls.
[Section 244ZH inserted: No. 7 of 2016 s. 85.]