COOPERATIVES REGULATION 1997

Queensland Consolidated Regulations

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COOPERATIVES REGULATION 1997

TABLE OF PROVISIONS

Contents

Part 1--Preliminary

1. Short title
2. Commencement
3. Documents that are not debentures

Part 2--Rules

5. Content of rules

Part 3--Active membership

6. Factors and considerations for deciding primary activities etc.
7. Particulars for register of cancelled memberships

Part 4--Shares and voting

8. Notice about bonus shares
9. Postal ballots

Part 5--Management and administration of cooperatives

10. Disqualified persons
12. Requirements for financial records and financial reports
13. Registers to be kept by cooperatives
14. Inspection of registers etc.
15. Notice of appointment etc. of directors and officers
16. Notice of change of certain particulars about directors and officers
17. Annual report to registrar
18. Unsuitable names
19. Change of name of cooperative

Part 6--Funds and property

20. Fund raising to be in accordance with Act and regulations
21. Requirements for accepting deposits
22. Compulsory loan by member to cooperative
23. Charges required to be registered
24. Inspection of register of charges
25. Copies of register of charges
26. Limited dividend

Part 7--Restrictions on the acquisition of interests in cooperatives

27. Notice required to be given of voting interest
28. Notice required to be given of substantial share interest
29. Notice required to be given of change in substantial share interest
30. Notice required to be given of cessation of substantial share interest
31. Cooperative to keep register

Part 8--Merger, transfer of engagements, winding up

32. Application for transfer
33. Winding up on registrar's certificate
34. Application of Corporations Act to winding-up

Part 9--Arrangements and reconstructions

35. Registrar to be given notice and opportunity to make submissions
36. Explanatory statement required to accompany notice of meeting etc.
37. Acquisition of shares pursuant to notice to dissenting shareholder
38. Notice to remaining shareholders
39. Effect of out-of-jurisdiction compromise or arrangement

Part 10--Foreign cooperatives

40. Cooperatives law
41. Application for registration of participating cooperatives

42. Application for registration of non-participating cooperatives

43. Application of Act to foreign cooperatives
44. Registrar to be notified of certain changes
45. Cooperative proposing to register as a foreign cooperative

Part 11--Supervision and protection of cooperatives

46. Examination of involved person—allowance and expenses

Part 12--Administration of the Act

47. Inspection of register

Part 13--Relevant interests

48. Exclusions—holders of prescribed offices

Part 14--Miscellaneous

49. Fees
50. Waiver of fees
51. Model rules
SCHEDULE 1 CHANGES TO CORPORATIONS ACT PROVISIONS
SCHEDULE 2 PARTICULARS TO BE INCLUDED IN REGISTERS
1. Register of members, directors and shares
2. Register of loans, securities given by, debentures issued by and deposits received by a cooperative
3. Register of names of persons who have given loans or deposits to or hold securities or debentures given or issued by a cooperative
4. Register of loans made or guaranteed by and securities taken by a cooperative
5. Register of memberships cancelled
6. Register of fixed assets
7. Register of subordinated debt
8. Register of names for subordinated debt
SCHEDULE 3 POSTAL BALLOTS
1. Ballots
2. Returning officer
3. Preparation of voting roll and ballot papers
4. Duplicate ballot papers
5. Voting
6. Safe keeping of ballot papers
7. Counting of votes
8. Report
SCHEDULE 5 UNDESIRABLE MATTER FOR NAMES
SCHEDULE 6 INFORMATION FOR DRAFT EXPLANATORY STATEMENTS AND EXPLANATORY STATEMENTS
1. Definitions for schedule
2. Information about proposed compromise or arrangement with creditors
3. Information about proposed compromise or arrangement with members or class of members

SCHEDULE 7 PROVISIONS OF ACT AND REGULATION APPLYING TO PARTICIPATING AND NON-PARTICIPATING COOPERATIVES
SCHEDULE 8 HOLDERS OF PRESCRIBED OFFICES
SCHEDULE 9 FEES
ATTACHMENT NOT FORMING PART OF REGULATION
Model Rules 1997
Rules of a non-trading cooperative without share capital registered under the Cooperatives Act 1997 (Qld)
1. Interpretation
2. Rules
3. Powers
4. Name
5. Active membership provisions
6. Qualifications for membership
7. Membership, subscriptions, periodic fees

8. Ceasing membership
9. Expulsion of members
10. Suspension of members
11. Disputes
12. Fines payable by members
13. Liability of members to cooperatives
14. Forfeiture and cancellations—inactive members
15. Death of member
16. Dealings of members with cooperatives
17. Registration of official trustee in bankruptcy
18. Registration as administrator of estate on incapacity of member
19. Entitlements and liabilities of person registered as trustee, administrator etc.
20. Transfer and transmission of debentures
21. Annual general meetings
22. Special general meetings
23. Notice of general meetings
24. Business of general meetings
25. Quorum at general meetings
26. Chairperson at general meetings
27. Standing orders at general meetings
28. Attendance and voting at general meetings
29. Proxy votes
30. Restriction on voting entitlement under power of attorney
31. Postal ballot
32. Poll at general meetings
33. Special and ordinary resolutions
34. Board of directors
35. Qualifications of directors
36. Independent directors
37. Managing director
38. First and subsequent directors
39. Removal from office of director
40. Vacation of office of director
41. Filling of casual vacancies
42. Remuneration
43. Deputy directors
44. Proceedings of the board
45. Transaction of business outside board meetings
46. Quorum for board meetings
47. Chairperson of board
48. Delegation and board committees
49. Other committees
50. Minutes
51. Financial year
52. Seal
53. Custody and inspection of records and registers
54. Accounts
55. Safe keeping of securities
56. Audit
57. Cooperative funds
58. Provision for loss
59. Notices
60. Winding up
61. Schedule of charges
Rules of a non-trading cooperative with share capital registered under the Cooperatives Act 1997 (Qld)
1. Interpretation
2. Rules
3. Powers
4. Name
5. Active membership provisions
6. Qualifications for membership
7. Membership, subscriptions, periodic fees and shares
8. Ceasing membership
9. Expulsion of members
10. Suspension of members
11. Disputes
12. Fines payable by members
13. Capital and shares
14. Liability of members to cooperatives
15. Calls on shares
16. Certificate of shares
17. Sale of members' shares
18. Transfer and transmission of shares
19. Effect of sale, transfer or disposal of shares
20. Forfeiture and cancellations—inactive members
21. Forfeiture of shares
22. Forfeited shares
23. Forfeiture for non-payment of subscription
24. Death of member
25. Dealings of members with cooperatives
26. Charges on shares
27. Registration of official trustee in bankruptcy
28. Registration as administrator of estate on incapacity of member
29. Entitlements and liabilities of person registered as trustee, administrator etc.
30. Transfer and transmission of debentures
31. Annual general meetings
32. Special general meetings
33. Notice of general meetings
34. Business of general meetings
35. Quorum at general meetings
36. Chairperson at general meetings
37. Standing orders at general meetings
38. Attendance and voting at general meetings
39. Proxy votes
40. Restriction on voting entitlement under power of attorney
41. Postal ballot
42. Poll at general meetings
43. Special and ordinary resolutions
44. Board of directors
45. Qualifications of directors
46. Independent directors
47. Managing director
48. First and subsequent directors
49. Removal from office of director
50. Vacation of office of director
51. Filling of casual vacancies
52. Remuneration
53. Deputy directors
54. Proceedings of the board
55. Transaction of business outside board meetings
56. Quorum for board meetings
57. Chairperson of board
58. Delegation and board committees
59. Other committees
60. Minutes
61. Financial year
62. Seal
63. Custody and inspection of records and registers
64. Accounts
65. Safe keeping of securities
66. Audit
67. Cooperative funds
68. Provision for loss
69. Notices
70. Winding up
71. Schedule of charges
Rules of a trading cooperative with share capital registered under the Cooperatives Act 1997 (Qld)
1. Interpretation
2. Rules
3. Powers
4. Name
5. Active membership provisions
6. Qualifications for membership
7. Membership, subscriptions, periodic fees and shares
8. Ceasing membership
9. Expulsion of members
10. Suspension of members
11. Disputes
12. Fines payable by members
13. Capital and shares
14. Liability of members to cooperatives
15. Calls on shares
16. Certificate of shares
17. Sale of members' shares
18. Transfer and transmission of shares
19. Effect of sale, transfer or disposal of shares
20. Forfeiture and cancellations—inactive members
21. Forfeiture of shares
22. Forfeited shares
23. Forfeiture for non-payment of subscription
24. Death of member
25. Dealings of members with cooperatives
26. Charges on shares
27. Registration of official trustee in bankruptcy
28. Registration as administrator of estate on incapacity of member
29. Entitlements and liabilities of person registered as trustee, administrator etc.
30. Transfer and transmission of debentures
31. Annual general meetings
32. Special general meetings
33. Notice of general meetings
34. Business of general meetings
35. Quorum at general meetings
36. Chairperson at general meetings
37. Standing orders at general meetings
38. Attendance and voting at general meetings
39. Proxy votes
40. Restriction on voting entitlement under power of attorney
41. Postal ballot
42. Poll at general meetings
43. Special and ordinary resolutions
44. Board of directors
45. Qualifications of directors
46. Independent directors
47. Managing director
48. First and subsequent directors
49. Removal from office of director
50. Vacation of office of director
51. Filling of casual vacancies
52. Remuneration
53. Deputy directors
54. Proceedings of the board
55. Transaction of business outside board meetings
56. Quorum for board meetings
57. Chairperson of board
58. Delegation and board committees
59. Other committees
60. Minutes
61. Financial year
62. Seal
63. Custody and inspection of records and registers
64. Accounts
65. Safe keeping of securities
66. Audit
67. Cooperative funds
68. Provision for loss
69. Notices
70. Winding up
71. Schedule of charges
Endnotes

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