New South Wales Consolidated Acts

CO-OPERATIVES ACT 1992 - SECT 258

258 Name to appear on business documents etc

(cf Vic Act s 254)

(1) The name of a co-operative must appear in legible characters:

(a) on its seal, and

(b) in all notices, advertisements and other official publications of the co-operative, and

(c) in all its business documents.

(2) If subsection (1) is contravened, the co-operative is guilty of an offence.

Maximum penalty: 20 penalty units.

(3) If an officer of a co-operative or a person on its behalf:

(a) uses any seal of the co-operative, or

(b) issues or authorises the issue of any notice, advertisement or other official publication of the co-operative, or

(c) signs or authorises to be signed on behalf of the co-operative any business document of the co-operative,

in or on which the co-operative’s name does not appear in legible characters is guilty of an offence.

Maximum penalty: 20 penalty units.

(4) Any officer or person who so signs or authorises to be signed any such business document that is a bill of exchange, cheque, promissory note or order for money or goods is also to be personally liable for the amount to the holder thereof, unless the amount is duly paid by the co-operative.

(5) A director of a co-operative who knowingly authorises or permits a contravention of this section is guilty of an offence.

Maximum penalty: 20 penalty units.

(6) In this section:
"business document", in relation to a co-operative, means a document that is issued, signed or endorsed by or on behalf of the co-operative and is:

(a) a business letter, statement of account, invoice or order for goods or services, or

(b) a bill of exchange, promissory note, cheque or other negotiable instrument, or

(c) a receipt or letter of credit issued by the co-operative, or

(d) a document of a class prescribed by the regulations as a class of business documents.