Tasmanian Consolidated Acts

COOPERATIVES ACT 1999 - SECT 9

      (1) A cooperative is declared to be an excluded matter for the purposes of section 5F of the Corporations Act in relation to the whole of the Corporations legislation other than to the extent specified in subsection (2).

      (2) Subsection (1) does not exclude the application of the following provisions of the Corporations legislation to cooperatives to the extent that those provisions would otherwise be applicable to them:

(a) provisions that relate to any matter that the regulations provide is not to be excluded from the operation of the Corporations legislation;

(b) provisions that relate to the role of a cooperative in the formation of a company;

(c) provisions that relate to substantial shareholdings, by or involving a cooperative, in a company;

(d) provisions that confer or impose functions on a cooperative as a member, or former member, of a corporation;

(e) provisions that relate to dealings by a cooperative in securities of a body corporate, other than securities of the cooperative itself;

(f) provisions that confer or impose functions on a cooperative in its dealings with a corporation, not being dealings in securities of the cooperative;

(g) provisions that relate to securities of a cooperative, other than shares in, debentures of or deposits with a cooperative;

(h) provisions relating to the futures industry;

(i) provisions relating to participants in the securities industry;

(j) provisions relating to the conduct of securities business;

(k) provisions relating to dealers' accounts and audit;

(l) provisions relating to money and scrip of dealers' clients;

(m) provisions relating to registers of interests in securities.

      (3) To remove doubt it is declared that subsection (1) does not operate to exclude the operation of the following provisions of the Corporations Act, except in relation to shares in, debentures of or deposits with a cooperative:

(a) Part 1.2A (Disclosing entities);

(b) Chapter 2L (Debentures);

(c) Chapter 6D (Fundraising);

(d) Part 7.11 (Conduct in relation to securities).