Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) The rules of a cooperative may contain provisions that require a member to have any specified dealings with the cooperative for a fixed period and to enter into a contract for that purpose.
(2) A cooperative may, if authorised by its rules, make a contract with a member containing provisions that require the member to have any specified dealings with the cooperative for a fixed period.
(3) In particular, the provisions of the rules or a contract may require a member –
(a) to sell products through or to the cooperative; or
(b) to obtain supplies or services through or from the cooperative; or
(c) to pay to the cooperative specified sums as liquidated damages for any failure to comply with a requirement authorised by this section.
(4) Any sum so required to be paid to the cooperative as liquidated damages is for the purposes of section 74 to be considered to be a debt due from the member to the cooperative.
(5) A contract authorised by this section is binding on the cooperative and all other parties even though, but for this Act, the contract would be invalid as being in restraint of trade.
(6) Rules authorised by this section are authorised even though, but for this section, the rules might be invalid as being in restraint of trade.