Western Australian Current Acts

CO-OPERATIVES ACT 2009 - SECT 9

9 .         Excluded matter

        (1)         A co-operative is declared to be an excluded matter for the purposes of the Corporations Act section 5F in relation to the whole of the Corporations legislation other than to the extent specified in subsection (2).

        (2)         Subsection (1) does not exclude the application of the following provisions of the Corporations legislation to co-operatives to the extent that the provisions would otherwise be applicable to them —

            (a)         provisions relating to a matter that the regulations provide is not to be excluded from the operation of the Corporations legislation;

            (b)         provisions relating to the role of a co-operative in the formation of a company;

            (c)         provisions relating to the registration of a co-operative as a company under the Corporations Act Chapter 5B;

            (d)         provisions relating to substantial shareholdings, by or involving a co-operative, in a company;

            (e)         provisions conferring or imposing functions on a co-operative as a member, or former member, of a corporation;

            (f)         provisions relating to dealings by a co-operative in financial products of a corporation, other than financial products of the co-operative itself;

            (g)         provisions conferring or imposing functions on a co-operative in its dealings with a corporation, not being dealings in financial products of the co-operative;

            (h)         provisions relating to financial products of a co-operative, other than shares in, CCUs in, debentures of or deposits with a co-operative;

                  (i)         provisions relating to financial markets and participants in financial markets;

            (j)         provisions relating to financial services licensees whose licence covers dealing in, or providing advice about, financial products;

            (k)         provisions relating to carrying on a financial services business;

            (l)         provisions relating to financial statements, and audits of financial statements, of financial services licensees whose licence covers dealing in, or providing advice about, financial products;

            (m)         provisions relating to clients of financial services licensees whose licence covers dealing in, or providing advice about, financial products;

            (n)         provisions relating to registers of interests in financial products.

        (3)         To remove doubt it is declared that subsection (1) does not operate to exclude the operation of the following provisions of the Corporations Act , except in relation to shares in, CCUs in, debentures of, or deposits with, a co-operative —

            (a)         Part 1.2A;

            (b)         Chapter 2L;

            (c)         Chapter 6CA;

            (d)         Chapter 6D;

            (e)         Part 7.10.

        (4)         If a co-operative is directed by an order of the Supreme Court under section 84(i) to become registered as a company under the Corporations Act, the provisions referred to in subsection (2)(c) apply to the extent necessary for the co-operative to be registered as a company under Chapter 5B of that Act.

        [Section 9 amended: No. 7 of 2016 s. 198.]