Western Australian Current Acts Western Australian Current Acts (1) A co-operative
has, both within and outside this State, the legal capacity of an individual.
(2) Without limiting
subsection (1), a co-operative has, both within and outside this State, power
—
(a) to
issue and allot fully or partly paid shares in the co-operative; and
(b) to
issue debentures of, and CCUs in, the co-operative; and
(c) to
distribute any of the property of the co-operative among the members, in kind
or otherwise; and
(d) to
give security by charging uncalled capital; and
(e) to
grant a charge on property of the co-operative; and
(f) to
procure the co-operative to be registered or recognised as a corporation in
any place outside this State; and
(g) to
do any other act that it is authorised to do by any other law, including a law
of a place outside this State.
(3) Subsections (1)
and (2) have effect in relation to a co-operative —
(a) if
the co-operative’s rules contain an express or implied restriction on,
or an express or implied prohibition of, the exercise by the co-operative of
any of its powers, despite that restriction or prohibition; and
(b) if
the rules of the co-operative contain a provision stating the objects of the
co-operative, despite that fact.
(4) The fact that the
doing of an act by a co-operative would not be, or is not, in its best
interests does not affect its legal capacity to do the act.
[Section 39 amended: No. 7 of 2016 s. 198.]