Tasmanian Consolidated Acts

COOPERATIVES ACT 1999 - SECT 14

      (1) A non-trading cooperative is a cooperative whose rules prohibit it from giving returns or distributions on surplus or share capital to members, other than the nominal value of shares, if any, at winding-up.

      (2) A non-trading cooperative may or may not have a share capital.

      (3) A non-trading cooperative must have a membership of –

(a) two or more cooperatives, in the case of an association; and

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

(c) for another non-trading cooperative –

(i) if a lesser number than 5 is prescribed under the regulations, at least that number of active members; or

(ii) otherwise, 5 or more active members.