CO-OPERATIVES ACT 2009 (NO. 24 OF 2009) - SECT 238

CO-OPERATIVES ACT 2009 (NO. 24 OF 2009) - SECT 238

238 .         Name to include certain matter

        (1)         The name of a co-operative may consist of words, numbers or a combination of both.

        (2)         The name of a co-operative must include the word “Co-operative” or “Cooperative” or the abbreviation “Co-op”.

        (3)         Subject to subsection (4) the word “Limited” or the abbreviation “Ltd” must be the last word of the name.

        (4)         The Registrar may approve the registration of a co-operative without “Limited” or the abbreviation “Ltd” in its name, or alter the registration of a co-operative by omitting “Limited” or the abbreviation “Ltd” from its name, if its constitution —

            (a)         requires the co-operative to pursue charitable purposes only and to apply its income in promoting those purposes; and

            (b)         prohibits the co-operative making distributions to its members and paying fees to its directors; and

            (c)         requires the directors to approve all other payments the co-operative makes to directors.

        (5)         The co-operative must notify the Registrar as soon as practicable if any of those requirements or prohibitions in its constitution are not complied with or if its constitution is modified to remove any of those requirements or prohibitions.

        Penalty: a fine of $2 000.

        (6)         The Registrar may at any time by notice in writing to the co-operative revoke an approval under subsection (4) but only after giving the co-operative an opportunity to make submissions to the Registrar on the matter.

        (7)         A corporation that is formed or incorporated under an Act other than this Act must not register under the other Act by a name that includes the word “Co-operative” or “Cooperative” or the abbreviation “Co-op”.

        Penalty: a fine of $2 000.

        (8)         The Registrar cannot register as the name of a co-operative a name that contains anything a regulation declares is an unsuitable name, unless the Minister is satisfied the name is suitable for registration in the circumstances of a particular case.

        (9)         Subsection (7) does not apply to a corporation that is allowed under another Act to use the word “Co-operative” or “Cooperative” or the abbreviation “Co-op” in its name.