Tasmanian Consolidated Acts Tasmanian Consolidated Acts
In the case of a cooperative that has a share capital, in addition to those circumstances in section 65, a member ceases to be a member if –
(a) the member's share is transferred to another person in accordance with 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 in accordance with 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 in accordance with this Act; or
(e) the amount paid-up on the member's share is repaid to the member in accordance with the rules of the cooperative.