Western Australian Current Acts Western Australian Current Acts (1) If a proposed
compromise or arrangement is between a co-operative and any of its creditors
and no order has been made or resolution passed for the winding-up of the
co-operative, the Supreme Court may restrain further proceedings in an action
or other civil proceeding against the co-operative except by leave of the
Supreme Court and subject to such terms as the Supreme Court imposes.
(2) The Supreme
Court’s power under this section is in addition to any of its other
powers and cannot be exercised except on application by the co-operative or of
any creditor or member of the co-operative.