Australian Capital Territory Consolidated Acts

COOPERATIVES ACT 2002 - SECT 74

    (1)     The rules of a cooperative may—

        (a)     require the payment by members of entry fees and regular subscriptions; and

        (b)     authorise the amount of entry fees and regular subscriptions, based on the business done by shareholders with the cooperative; and

        (c)     provide for the repayment of the fees and subscriptions on a person ceasing to be a member.

    (2)     The amount of a particular member's regular subscription may be worked out by reference to the amount of business the member does with the cooperative.

    (3)     A cooperative must give to anyone intending to become a member notice of any entry fees or regular subscriptions payable by a member to the cooperative.

    (4)     A person who becomes a member of the cooperative is not liable to pay any entry fees or regular subscriptions except—

        (a)     fees or subscriptions of which the person was given notice before becoming a member; and

        (b)     any regular subscriptions that may be imposed by any subsequent alteration of the rules and of which the member has been given notice.