Western Australian Current Acts

CO-OPERATIVES ACT 2009 - SECT 270

270 .         Application for charitable purposes or members’ purposes

        (1)         A co-operative may apply a part of the surplus arising in a year from the business of the co-operative for a charitable purpose.

        (2)         A distributing co-operative may apply a part of the surplus arising in a year from the business of the co-operative towards supporting an activity approved by the co-operative.

        (3)         The rules must limit the amount that may be applied under subsection (1) or (2) to a specified proportion of the surplus.

        (4)         A co-operative may apply part of the surplus for a purpose and to the extent authorised by rules.