Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) A cooperative's rules may contain an express restriction on, or an express prohibition of, the exercise by the cooperative of a power of the cooperative.
(2) A cooperative contravenes this section if—
(a) it exercises a power contrary to an express restriction in the cooperative's rules on, or an express prohibition in the cooperative's rules of, the exercise of the power; or
(b) the rules of the cooperative contain a provision stating the objects of the cooperative and the cooperative does an act otherwise than in pursuance of the objects.
(3) An officer of a cooperative who is involved in a contravention by the cooperative of this section also contravenes this section.
(4) Contravention of this section is not an offence.