CO-OPERATIVE HOUSING AND STARR-BOWKETT SOCIETIES ACT 1998

New South Wales Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Download] [History] [Help]

CO-OPERATIVE HOUSING AND STARR-BOWKETT SOCIETIES ACT 1998

- As at 11 June 2008
- Act 11 of 1998

TABLE OF PROVISIONS

Long Title

PART 1 - PRELIMINARY

Division 1 - Introductory

1. Name of Act
2. Commencement

Division 2 - Interpretation

3. Definitions
4. Interpretation-meaning of “associate”
5. Interpretation-meaning of “director”
5A. Interpretation-meaning of “economic entity” and “entity”
6. Interpretation-reference to a holding body corporate
7. Interpretation-meaning of “holding society”
8. Interpretation-meaning of “making a decision”
9. Interpretation-meaning of “officer”
10. Interpretation-meaning of “related body corporate”
11. Interpretation-meaning of “subsidiary”
12. Interpretation-when one entity controls another
13. Services corporations

Division 3 - Operation of Act

14. Act binds the Crown

Division 4 - Application of Corporations Act to co-operative housing bodies

15. Definition
16. Excluded matter
17. Applying the Corporations legislation to co-operative housing bodies
18. (Repealed)

PART 2 - FUNCTIONS AND POWERS OF REGISTRAR

Division 1 - General

19. Functions of Registrar
20. General powers
21. Application of variation under standards
22. (Repealed)
23. Inspection of documents
24. Power of Registrar to reject documents, etc
25. Extension or abridgment of time
26. Review of Registrar decisions
27. Review by ADT of Registrar decisions

Division 2 - Specific powers

Subdivision 1 - Enforcement powers

28. Obtaining information etc
29. Obtaining evidence
30. Inspectors
31. Inspector to produce identification
32. Entry and search-monitoring compliance
33. Entry and search-evidence of offences
34. General powers of inspector in relation to places
35. Monitoring warrants
36. Offence related warrants
37. Offence related warrant may be granted by telephone
38. Obstruction etc of inspectors
39. False or misleading statements

Subdivision 2 - Special meeting and inquiry

40. Special meeting and inquiry

Subdivision 3 - Special power of intervention

41. Intervention by Registrar

Subdivision 4 - Power to suspend operations of society

42. Power to suspend operations

Subdivision 5 - Administrators

43. Appointment of administrator
44. Additional powers of Registrar
45. Stay of proceedings
46. Administrator to report to Registrar

Subdivision 6 - Advertising by co-operative housing bodies

47. Power to control advertising

Division 3 - Exercise of functions and powers of Registrar

47A. Exercise of functions and powers of Registrar
47B. Delegation by Registrar

PART 3 - SOCIETIES

Division 1 - Formation and registration

48. Co-operative housing societies and Starr-Bowkett societies
49. Formation of co-operative housing and Starr-Bowkett societies
50. Registration
51. Certificate of incorporation
52. Effect of incorporation

Division 2 - Powers

53. Powers of societies
54. Restrictions on subscriptions and deposits-co-operative housing societies
55. Restrictions on borrowings by co-operative housing societies
56. Prohibition on foreign borrowings by co-operative housing societies
57. Restrictions on borrowings by Starr-Bowkett societies
58. Protection of lenders
59. Treasurer’s indemnity for loans by co-operative housing society
60. Treasurer’s guarantee for co-operative housing society loans

Division 3 - Rules

61. Rules
62. Model rules
63. Copies of rules
64. Society and members to be bound by rules
65. Alteration of rules by special resolution
66. Alteration of rules by board of directors
67. Registration of alteration of rules
68. Power of Registrar to require modification of rules
69. Power of Registrar to modify rules to facilitate transfer of engagements

Division 4 - Membership

70. Members
71. Shares
72. Members who are minors
73. Joint members
74. Corporate membership
75. Cessation of membership
76. Expulsion of member
77. Liability of members
78. Fees and charges
79. Fines payable by members

Division 5 - Name and office

80. Registration of name and change of name
81. Requirements for and restrictions on names
82. Abbreviations etc of name
83. Change of name does not affect identity
84. Use of words “co-operative housing society” or “Starr-Bowkett”
85. Publication of name
86. Seal
87. Registered office

Division 6 - Registration of charges

88. Registration of charges

PART 4 - MANAGEMENT

Division 1 - Directors and officers

89. Interpretation
90. Board of directors
91. Meetings
92. Number of directors
93. Election or appointment of directors
94. Employee directors
95. Alternate directors
96. Chairperson
97. Qualifications of directors
98. Vacation of office
99. Removal of directors
100. Declaration of interest
101. General duty to make disclosure
102. Certain financial accommodation to officers prohibited
103. Financial accommodation to directors and associates
104. Directors’ remuneration
105. Management contracts
106. Duties of directors and officers
107. Prohibition on transfer of money
108. Unlawfully acting as director

Division 2 - Meetings

109. Annual general meeting
110. Special general meeting
111. Quorum
112. Notice of meeting
113. Voting
114. Proxy votes
115. Special resolutions
116. Minutes

Division 3 - Registers and inspection

117. Registers
118. Register of directors
119. Register of members
120. Inspection
121. Location of registers on computers
122. Form and evidentiary value of registers

Division 4 - Accounts

123. Financial year of co-operative housing society
124. Financial year of Starr-Bowkett society
125. Financial year of association
126. Accounting records to be kept
127. Inspection of accounting records
128. Statement of financial performance and statement of financial position
129. Group accounts
130. Audit
131. Directors to ascertain certain matters
132. Requirements applying to accounts and group accounts
133. Directors’ statement
134. Directors’ reports
135. Accounts and reports to be laid before annual general meeting
136. Contravention of Division

Division 5 - Audit

137. Qualifications of auditors
138. Appointment of auditors
139. Nomination of auditors
140. Removal and resignation of auditors
141. Effect of winding-up on office of auditor
142. Fees and expenses of auditors
143. Auditor’s report
144. Powers and duties of auditor
145. Final audit on merger etc
146. Obstruction of auditor
147. Qualified privilege

Division 6 - Returns and relief

148. Returns
149. Relief from requirements as to accounts and audit

PART 5 - MERGERS AND TRANSFERS OF ENGAGEMENTS

Division 1 - Preliminary

150. Definitions
151. Part applies only to co-operative housing societies and associations

Division 2 - Mergers and transfers of engagements between societies of the same type

152. Interpretation-societies of the same type
153. Application for registration of merger or transfer of engagements between societies of the same type
154. Registrar may register merged society
155. Certificate of confirmation (voluntary transfer)
156. Registrar may direct a transfer of engagements between societies of the same type
157. Society to comply with direction
158. Certificate of confirmation (transfer by direction)
159. Who receives the certificate of confirmation
160. When transfer of engagements takes effect
161. Cancellation of registration after total transfer
162. Effect of merger
163. Effect of transfer of engagements

Division 3 - (Repealed)
None

PART 6 - EXTERNAL ADMINISTRATION

Division 1 - Arrangements and reconstructions

173. Schemes of arrangement and reconstruction

Division 2 - Receivers and managers

174. Receivers and managers

Division 3 - Winding-up

175. Winding-up
176. Winding-up on certificate of Registrar
177. Application of Corporations Act to winding-up of societies
178. Voluntary winding-up
179. Vacancy in office of liquidator on voluntary winding-up
180. Remuneration of liquidator on voluntary winding-up
181. Cancellation of registration

PART 7 - ASSOCIATIONS

182. Formation of associations
183. Objects of associations
184. Registration
185. Certificate of incorporation
186. Effect of incorporation
187. Membership
188. Share capital
189. Meetings
190. Application of Act to associations

PART 8 - STANDARDS AND MODEL RULES

191. The Standards Committee
192. Making of standards
193. Making of model rules
194. Procedures before making of standards
195. Urgent standards
196. Application of changed requirements
197. Transitional arrangements
198. Matters for which standards may make provision
199. Publication of standards

PART 9 - EVIDENCE, OFFENCES AND PROCEEDINGS

Division 1 - Evidence

200. Certificates etc
201. Rules
202. Registers
203. Minutes
204. Entries

Division 2 - Offences

205. Defaults by co-operative housing bodies
206. Restrictions on powers
207. Offences by officers
208. Incurring debts not likely to be paid
209. Powers of Court
210. Inducement to be appointed as liquidator or official manager
211. Falsification of records
212. Frauds by officers
213. False or misleading information
214. Power to examine defaulting officers
215. Power of Court to assess damages against certain persons
216. False copies of rules
217. Fraud or misappropriation
218. Commissions
219. Co-operative housing bodies to comply with standards
220. Officers and other persons in default

Division 3 - Proceedings

221. Proceedings for offences
222. Continuing offences
223. Injunctions
224. Power to grant relief

PART 10 - GENERAL

225. Regulations
226. Repeal of 1923 Act and other Acts and instruments
227. Savings and transitional provisions
228. (Repealed)
229. Review of Act
SCHEDULE 1
SCHEDULE 2
SCHEDULE 3
SCHEDULE 4
SCHEDULE 5
Schedule 6 (Repealed)

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Download] [History] [Help]