New South Wales Consolidated Acts

CO-OPERATIVES ACT 1992 - SECT 113

113 Alteration does not take effect until registered

(cf Vic Act s 115)

(1) An alteration of the rules of a co-operative does not take effect unless and until it is registered by the Registrar.

(2) An application for registration of an alteration must:

(a) be made in a form approved by the Registrar, and

(b) be made within 28 days, or such other period as may be prescribed by the regulations, after the alteration is made, and

(c) be accompanied by a consolidated copy of the rules of the co-operative, including the alteration.

(3) The Registrar must register the alteration unless:

(a) the Registrar is satisfied that the alteration is contrary to this Act or the regulations, or

(b) the Registrar has other reasonable cause to refuse to register the alteration.

(4) The Registrar may refer any alteration to the Council for advice and report but is not required to follow the advice of the Council on the alteration.

(5) A certificate of registration of any alteration of the rules of a co-operative given by the Registrar is, in favour of any person giving financial accommodation to the co-operative on the faith of the certificate or in favour of any guarantor of that financial accommodation, conclusive evidence that the alteration in the rules was duly made.