Western Australian Current Acts

CO-OPERATIVES ACT 2009 - SECT 279

279 .         Transitional provision

        (1)         This section applies to a member of a transferred co-operative whose relevant interest in the shares of that co-operative immediately before the transfer day was more than the maximum permissible level of share interest for the purposes of section 278(1).

        (2)         The maximum permissible level of share interest for the purposes of section 278(1) for the member is the level of the member’s relevant interest in the shares immediately before the transfer day.

        (3)         In relation to a particular co-operative, this section ceases to operate 6 months after the transfer day.