Queensland Consolidated Acts

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COOPERATIVES ACT 1997 - SECT 67

67 Additional circumstances in which membership ceases--cooperatives with share capital

For a cooperative that has a share capital, in addition to the circumstances in section 66, a member ceases to be a member if--

(a) the member's share is transferred to another person under the rules of the cooperative, and the transferee is registered as holder in his or her place; or
(b) the member's share is forfeited under this Act or the rules of the cooperative; or
(c) the member's share is sold by the cooperative under a power conferred by the rules of the cooperative, and the purchaser is registered as holder in his or her place; or
(d) the member's share is purchased by the cooperative under this Act; or
(e) the amount paid up on the member's shares is repaid to the member under the rules of the cooperative.

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