CO-OPERATIVES ACT 1992 - SECT 147 Shares--general

This legislation has been repealed.

CO-OPERATIVES ACT 1992 - SECT 147

147 Shares--general

(cf Vic Act s 150)

(1) The share capital of a co-operative varies in amount according to the nominal value of shares from time to time subscribed.

(2) Shares are to be of a fixed amount which is to be specified in the rules of the co-operative.

(3) A co-operative may have more than one class of shares provided the share holding and the rights of shareholders comply with the co-operative principles.

(4) Subject to this Part and Part 4, shares must not be issued to a non-member.