New South Wales Consolidated Acts

CO-OPERATIVES ACT 1992 - SECT 264

264 Registrar’s directions concerning fund raising

(1) The Registrar may by written notice served on a co-operative give a direction to the co-operative as to the manner in which it is to exercise its functions in connection with the activities of the co-operative in obtaining financial accommodation.

(2) Such a direction may make provision for any one or more of the following matters:

(a) requiring the co-operative to cease obtaining financial accommodation or to cease obtaining financial accommodation in a particular way,

(b) requiring the co-operative to repay in accordance with the direction all or part of financial accommodation obtained,

(c) requiring the co-operative to re-finance in a specified manner financial accommodation repaid in accordance with the Registrar’s direction,

(d) the manner in which the co-operative is permitted to invest or utilise the proceeds of financial accommodation it obtains.