Australian Capital Territory Consolidated Acts

COOPERATIVES ACT 2002 - SECT 19

    (1)     Before a proposed cooperative (other than an existing corporation) can be registered, a formation meeting must be held in accordance with this section.

    (2)     At the formation meeting—

        (a)     subject to section 20 (8), a disclosure statement approved under section 20 must be presented to the meeting; and

        (b)     the proposed rules of the cooperative approved under section 21 in relation to the proposed cooperative, and including active membership provisions in accordance with part 6, must be passed by ² / 3 of the proposed members of the proposed cooperative attending the meeting; and

        (c)     the proposed members of the proposed cooperative must sign the application for membership; and

        (d)     the proposed members must elect the first directors of the proposed cooperative in accordance with the proposed rules; and

        (e)     the proposed members must authorise a person—

              (i)     to apply to the registrar for registration of the proposed cooperative; and

              (ii)     to do anything necessary to have the proposed cooperative registered.

Note     If a form is approved under s 466 for an application for membership, the form must be used.

    (3)     The formation meeting must be held—

        (a)     for an association—by not fewer than 2 suitably qualified cooperatives; and

        (b)     for a federation—by not fewer than 2 suitably qualified associations; and

        (c)     for any other organisation—by not fewer than 5 people (or, if a lesser number is prescribed by regulation, not fewer than that number of people), each of whom is suitably qualified to be a member of the proposed cooperative.

    (4)     For subsection (3), a person is suitably qualified to be a member if—

        (a)     there are reasonable grounds to believe the person will be an active member of the proposed cooperative; and

        (b)     for an individual—the person is at least 18 years old; and

        (c)     the person satisfies the requirements for membership under the proposed rules.

    (5)     Each cooperative forming a proposed association and each association forming a proposed federation may be represented at the formation meeting by a single person.