South Australian Consolidated Acts

CO-OPERATIVES ACT 1997 - SECT 14

14—Trading co-operatives

        (1)         A trading co-operative must have a share capital.

        (2)         A trading co-operative is a co-operative whose rules allow it to give returns or distributions on surplus or share capital.

        (3)         A trading co-operative must have a membership of—

            (a)         2 or more co-operatives, in the case of an association; and

            (b)         2 or more associations, in the case of a federation; and

            (c)         for any other trading co-operative—

                  (i)         if a lesser number than 5 is prescribed by regulation—at least that number of active members; or

                  (ii)         otherwise—5 or more active members.