Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) Before a proposed cooperative (other than an existing body corporate) can be registered, a formation meeting must be held in accordance with this section.
(2) At the formation meeting –
(a) in the case of a proposed trading cooperative, a disclosure statement approved under section 16 must be presented to the meeting; and
(b) the proposed rules of the cooperative approved under section 17 in respect of the proposed cooperative, and including active membership provisions in accordance with Part 6, must be passed by two-thirds of the proposed members of the proposed cooperative attending the meeting; and
(c) the proposed members of the proposed cooperative must sign the application for membership which must be in a form approved by the Commissioner; and
(d) the proposed members must elect the first directors of the proposed cooperative in accordance with the proposed rules; and
(e) the proposed members must authorise a person –
(i) to apply to the Commissioner for registration of the proposed cooperative; and
(ii) to do any act or thing necessary to have the proposed cooperative registered.
(3) The formation meeting must be held by –
(a) not less than 2 suitably qualified cooperatives, in the case of an association; and
(b) not less than 2 suitably qualified associations, in the case of a federation; and
(c) not less than 5 persons or, if a lesser number than 5 is prescribed under the regulations, not less than the prescribed number of persons, suitably qualified to be members of the proposed cooperative, in the case of any other cooperative.
(4) For the purposes of subsection (3), a person is suitably qualified to be a member if –
(a) there are reasonable grounds to believe the person will be an active member of the proposed cooperative; and
(b) in the case of a natural person, the person has attained the age of 18; and
(c) the person satisfies any other requirements for membership set out in the proposed rules.
(5) Each cooperative forming a proposed association and each association forming a proposed federation may be represented at the formation meeting by one person.