Western Australian Current Acts Western Australian Current Acts (1) The Registrar may,
with the approval of the Minister, direct a co-operative —
(a) to
transfer its engagements to a co-operative approved by the Registrar; and
(b)
within a period specified by the Registrar when giving the direction or a
further period allowed by the Registrar, to enter into an agreement approved
by the Registrar to give effect to the transfer of engagements directed.
(2) The Registrar
cannot give such a direction to a co-operative unless the necessary grounds
exist for the giving of the direction, as referred to in section 336(2).
(3) The transfer of
engagements must make provision, in a way approved by the Registrar, for the
members of the transferor co-operative who wish to do so to become members of
the transferee co-operative.
(4) If a co-operative
fails to comply with a direction under this section, the Registrar may elect
to treat the failure as the necessary grounds —
(a) for
winding-up the co-operative on a certificate of the Registrar; or
(b) for
appointing an administrator of the co-operative.
(5) The Registrar must
notify the co-operative of the Registrar’s decision under subsection
(4).
(6) The Registrar may
revoke a direction under this section at any time up until the co-operative
has agreed pursuant to the direction to transfer its engagements.
(7) A transfer of
engagements directed under this section takes effect on a day notified by the
Registrar in the Gazette .
(8) An officer of a
co-operative must not —
(a) fail
to take all reasonable steps to secure compliance by the co-operative with a
direction given under this section; or
(b) by a
wilful act or omission be the cause of a failure by the co-operative to comply
with a direction.
Penalty for this subsection: a fine of $2 000.
[Section 304 amended: No. 7 of 2016 s. 200.]