New South Wales Consolidated Acts

CO-OPERATIVES ACT 1992 - SECT 146D

146D Adoption of certain Corporations Act provisions about shares

(1) The shares of a co-operative are declared to be applied Corporations legislation matters for the purposes of Part 3 of the Corporations (Ancillary Provisions) Act 2001 in relation to sections 716 (2), 722, 723, 724, 725, 728, 729, 730, 733, 734 and 737 of the Corporations Act, subject to the following modifications:

(a) a reference in those sections to a company is to be read as a reference to a co-operative, and

(b) a reference in those sections to ASIC is to be read as a reference to the Registrar, and

(c) a reference in those sections to a disclosure document is to be read so as to include a reference to a disclosure statement, of any type, under this Act, and

(d) such other modifications (within the meaning of Part 3 of the Corporations (Ancillary Provisions) Act 2001 ) as may be prescribed by the regulations.

(2) However, subsection (1) applies only if:

(a) the shares are offered to persons who are not members of the co-operative, or

(b) the invitation is made to persons who are not members of the co-operative.