{"id":"sr:co-operatives-national-law-victoria-local-regulations-2024","name":"Co-operatives National Law (Victoria) Local Regulations 2024","slug":"co-operatives-national-law-victoria-local-regulations-2024","collection":"regulation","jurisdiction":"vic","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":185946,"registerId":"vic-sr:co-operatives-national-law-victoria-local-regulations-2024-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Co-operatives National Law (Victoria) Local Regulations 2024","content":"Version No. 001\n\n**Co-operatives National Law (Victoria) Local Regulations 2024**\n\n**S.R. No. 9/2024**\n\nVersion as at  \n17 February 2024\n\n**TABLE OF PROVISIONS**\n\n*Regulation Page*\n\n1 Objectives 1\n\n2 Authorising provision 1\n\n3 Commencement 1\n\n4 Revocation 1\n\n5 Definition 2\n\n6 Unsuitable names for co‑operatives 2\n\n7 Exemption from restriction on corporations registering a name including the word co‑operative or similar words 2\n\n8 Exemption from restriction on use of word co‑operative or similar words 3\n\n9 Application for transfer 4\n\n10 Examination of involved person 5\n\n11 Procedures regarding giving of exemptions 6\n\n12 Prescribed fees 7\n\n13 Application fees 8\n\n14 Document fees 18\n\n15 Application for exemption or modification—Chapter 6D of the Corporations Act 19\n\n16 Fee for lodgement of disclosure documents for issue of debentures—Chapter 6D of the Corporations Act 20\n\n17 Fee for application to deregister co‑operative—section 601AA of the Corporations Act 20\n\n18 Waiver, reduction or refund of fees 21\n\n19 Infringement penalties 21\n\n20 Model rules for government guarantee co‑operatives 21\n\nSchedule 1—Prescribed infringement offences and penalties 23\n\nSchedule 2—Modifications to model rules for co‑operatives supported by government guarantees 24\n\n═════════════\n\nEndnotes 27\n\n1 General information 27\n\n2 Table of Amendments 29\n\n3 Explanatory details 30\n\n**Version No.** **001**\n\n**Co-operatives National Law (Victoria) Local Regulations 2024**\n\n**S.R. No. 9/2024**\n\nVersion as at  \n17 February 2024\n\n\t1 Objectives\n\nThe objectives of these Regulations are to prescribe—\n\n(a) certain matters for the purposes of the Co‑operatives National Law (Victoria) and the Co‑operatives National Regulations (Victoria); and\n\n(b) fees payable under the Co‑operatives National Law (Victoria) and the Co‑operatives National Regulations (Victoria); and\n\n(c) offences under the Co‑operatives National Law (Victoria) as infringement offences, and infringement penalties for those infringement offences.\n\n\t2 Authorising provision\n\nThese Regulations are made under section 28 of the **Co‑operatives National Law Application Act 2013**.\n\n\t3 Commencement\n\nThese Regulations come into operation on 17 February 2024.\n\n\t4 Revocation\n\nThe Co‑operatives National Law (Victoria) Local Regulations 2014[[1]](#endnote-1) are **revoked**.\n\n\t5 Definition\n\nIn these Regulations—\n\n***the Act*** means the **Co‑operatives National Law Application Act 2013**.\n\n\t6 Unsuitable names for co‑operatives\n\nFor the purposes of section 220(5) of the Co‑operatives National Law (Victoria) and regulation 3.7 of the Co‑operatives National Regulations (Victoria), a name is to be regarded as an unsuitable name if the Registrar is satisfied that it is likely to mislead.\n\n\t7 Exemption from restriction on corporations registering a name including the word co‑operative or similar words\n\n(1) For the purposes of section 220(7) of the Co‑operatives National Law (Victoria), a corporation is exempt from section 220(4) of the Co‑operatives National Law (Victoria) if the corporation is—\n\n(a) a company that is permitted to use the expression \"building society\", \"credit union\" or \"credit society\" under section 66 of the Banking Act 1959 of the Commonwealth; or\n\n(b) a company that is a friendly society for the purposes of the Life Insurance Act 1995 of the Commonwealth; or\n\n(c) a company or society that was formed or incorporated under any other Act before the commencement of the **Co‑operation Act 1953**; or\n\n(d) a corporation that is allowed under an Act to use the word \"co‑operative\" or the abbreviation \"co‑op\" in its name; or\n\n(e) a corporation that is exempted under subregulation (2) from the operation of section 220(4) of the Co-operatives National Law (Victoria) and that complies with any conditions of that exemption.\n\n(2) On application by a corporation, the Registrar, by written notice, may exempt the corporation from the operation of section 220(4) of the Co‑operatives National Law (Victoria).\n\n(3) An application for an exemption under subregulation (2) must be accompanied by an application fee of 19·5 fee units.\n\n(4) An exemption granted under subregulation (2) may be—\n\n(a) for a specified period; and\n\n(b) subject to any specified conditions.\n\n(5) The Registrar, by written notice, may vary the conditions of an exemption granted under subregulation (2) or revoke the exemption.\n\n\t8 Exemption from restriction on use of word co‑operative or similar words\n\n(1) For the purposes of section 225(2) of the Co‑operatives National Law (Victoria), a person is exempt from section 225(1) of the Co‑operatives National Law (Victoria) if the person is—\n\n(a) a company that is permitted to use the expression \"building society\", \"credit union\" or \"credit society\" under section 66 of the Banking Act 1959 of the Commonwealth; or\n\n(b) a company that is a friendly society for the purposes of the Life Insurance Act 1995 of the Commonwealth; or\n\n(c) a company or society that was formed or incorporated under any other Act before the commencement of the **Co‑operation Act 1953**; or\n\n(d) a corporation that is allowed under an Act to use the word \"co‑operative\" or the abbreviation \"co‑op\" in its name; or\n\n(e) a person who is exempted under subregulation (2) from the operation of section 225(1) of the Co-operatives National Law (Victoria) and who complies with any conditions of that exemption.\n\n(2) On application, the Registrar, by written notice, may exempt a person from the operation of section 225(1) of the Co‑operatives National Law (Victoria).\n\n(3) An application for an exemption under subregulation (2) must be accompanied by an application fee of 19·5 fee units.\n\n(4) An exemption granted under subregulation (2) may be—\n\n(a) for a specified period; and\n\n(b) subject to any specified conditions.\n\n(5) The Registrar, by written notice, may vary the conditions of an exemption granted under subregulation (2) or revoke the exemption.\n\n\t9 Application for transfer\n\nFor the purposes of section 403(b) of the Co‑operatives National Law (Victoria), a co‑operative may apply to become registered, incorporated or otherwise established as a corporation under—\n\n(a) the **Associations Incorporation Reform Act 2012**; or\n\n(b) the Corporations (Aboriginal and Torres Strait Islander) Act 2006 of the Commonwealth; or\n\n(c) any legislation of the Commonwealth that provides for the incorporation of a building society, credit union or friendly society.\n\n\t10 Examination of involved person\n\n(1) For the purposes of section 522(4) of the Co‑operatives National Law (Victoria), the prescribed allowances are as follows—\n\n(a) for an involved person who receives wages, salary, remuneration or fees exceeding $133 per hour—for each hour or partial hour of attendance, the amount of wages, salary, remuneration or fees actually lost because of the person's attendance, but not exceeding $805 per day;\n\n(b) for any other involved person—$133 for each hour or partial hour of attendance, but not exceeding $805 per day.\n\n(2) For the purposes of section 522(4) of the Co‑operatives National Law (Victoria), the prescribed expenses are—\n\n(a) for travelling expenses to and from an involved person's usual place of residence or business and the place of attendance, the amount that is the lesser of—\n\n(i) the amount actually paid; or\n\n(ii) an amount calculated at 18 cents per kilometre travelled; and\n\n(b) for meal and accommodation expenses, if an involved person is required to be absent overnight from the person's usual place of residence, the amount that is the lesser of—\n\n(i) the amount actually paid; or\n\n(ii) $214.95 for any one night.\n\n\t11 Procedures regarding giving of exemptions\n\nFor the purposes of section 621 of the Co‑operatives National Law (Victoria), an application for an exemption must be made—\n\n(a) in writing; and\n\n(b) within a reasonable time before the event or the occurrence of the matter for which the exemption is sought.\n\n\t12 Prescribed fees\n\nFor the purposes of a provision of the Co‑operatives National Law (Victoria) specified in Column 2 of the following Table, the prescribed fee is the amount specified opposite that provision in Column 4.\n\n**Table**\n\n| *Column 1*<br>*Item* | *Column 2*<br>*Provision of Co‑operatives National Law (Victoria)* | *Column 3*<br>*Description of provision* | *Column 4*<br>*Prescribed fee* |\n| --- | --- | --- | --- |\n| 1 | section 26(1)(b)(ii) | Application for registration of a proposed co‑operative | 2·2 fee units |\n| 2 | section 31(b)(ii) | Application for registration of existing corporation | 2·2 fee units |\n| 3 | section 37(b)(ii) | Issue of duplicate certificate | 2·2 fee units |\n| 4 | section 243(2)(c)(ii) | Registration of special resolution | 5·5 fee units for each resolution up to a maximum fee of 11·6 fee units |\n| 5 | section 601(1)(a) | Inspection of register of co‑operatives | 2·2 fee units |\n| 6 | section 601(1)(b) | Inspection of document kept by Registrar | 2·2 fee units |\n| 7 | section 601(1)(c) | Obtaining extract from register of co‑operatives | 2·2 fee units |\n|  |  |  |  |\n|  |  |  |  |\n| 8 | section 601(1)(d) | Obtaining certified copy of document kept by Registrar | 2·2 fee units for the first page and $3 for every subsequent page up to a maximum fee of 11·6 fee units |\n| 9 | section 601(1)(e) | Obtaining copy of document kept by Registrar | 1·6 fee units for the first page and $2 for every subsequent page up to a maximum fee of 7·8 fee units |\n\n\n\t13 Application fees\n\n(1) An application described in Column 3 of the following Table under a provision of the Co‑operatives National Law (Victoria) specified in Column 2 must be accompanied by an application fee of the amount specified in Column 4 opposite that provision.\n\n**Table**\n\n| *Column 1*<br>*Item* | *Column 2*<br>*Provision of Co‑operatives National Law (Victoria)* | *Column 3*<br>*Description of application* | *Column 4*<br>*Application fee* |\n| --- | --- | --- | --- |\n| 1 | section 63(2) | Application for registration of an amendment of the rules | 2·2 fee units for each rule up to a maximum fee of 11·6 fee units |\n|  |  |  |  |\n|  |  |  |  |\n| 2 | section 63(4) | Application for certificate of registration of rule amendment | 2·2 fee units |\n| 3 | section 71 | Application for exemption from disclosure statement requirements for distributing co‑operatives | 5·5 fee units |\n| 4 | section 82(3)(a) | Application to register a disclosure statement to accompany a proposal to require a member to take up or subscribe for additional shares | 19·5 fee units |\n| 5 | section 119(5) | Application to extend the period during which a co‑operative may carry on business with fewer than the minimum number of members | 19·5 fee units |\n| 6 | section 152(3) | Application to determine a member's eligibility to vote on an active membership resolution | 19·5 fee units |\n|  |  |  |  |\n|  |  |  |  |\n|  |  |  |  |\n| 7 | section 171 | Application for exemption from provisions relating to the entitlements of former members of distributing co‑operatives | 19·5 fee units |\n| 8 | section 213(1)(d) | Application to keep the co‑operative's register at a location approved by the Registrar | 5·5 fee units |\n| 9 | section 221(1) | Application to omit the word \"Limited\" or the abbreviation \"Ltd\" from the name of a co‑operative | 11·6 fee units |\n| 10 | section 222(e) | Application to use an abbreviation or elaboration of the name of a co‑operative | 5·5 fee units |\n| 11 | section 224(1) | Application to change the name of a co‑operative | 19·5 fee units |\n| 12 | section 226(6) | Application for an exemption from requirement to display notice at registered office stating co‑operative's name and identifying premises as registered office | 5·5 fee units |\n|  |  |  |  |\n| 13 | section 233(2) | Application for a review by the Registrar of a member's right to vote | 19·5 fee units |\n| 14 | section 244(3) | Application for a certificate of registration of a special resolution | 2·2 fee units |\n| 15 | section 316 | Application for an exemption relating to an individual co‑operative | 19·5 fee units |\n| 16 | section 319 | Application for an exemption relating to non‑auditors, former members of audit firms and former employees of audit companies | 19·5 fee units |\n| 17 | section 322 | Application for an exemption from the Co‑operatives National Regulations (Victoria) | 19·5 fee units |\n| 18 | section 343(10) | Application to the Registrar for an exemption from section 343 of the Co‑operatives National Law (Victoria) concerning compulsory loans | 19·5 fee units |\n|  |  |  |  |\n| 19 | section 350 | Application to the Registrar for approval of the issue of co‑operative capital units | 19·5 fee units |\n| 20 | section 359(3) | Application to the Registrar for an exemption from provisions concerning the acquisition and disposal of assets of the co‑operative | 19·5 fee units |\n| 21 | section 363(2) | Application for an increased maximum permissible level of share interest | 19·5 fee units |\n| 22 | section 372 | Application for an exemption from the operation of Division 1 of Part 3.5 of the Co‑operatives National Law (Victoria) | 19·5 fee units |\n| 23 | section 374(1)(b) | Application for an approval of share offers to which Division 2 of Part 3.5 of the Co‑operatives National Law (Victoria) applies | 171·2 fee units |\n|  |  |  |  |\n|  |  |  |  |\n| 24 | section 376(5) | Application to the Registrar to extend the period of time permitted for the board of a co‑operative to consider a share offer of the kind specified in section 373(1) of the Co‑operatives National Law (Victoria) | 19·5 fee units |\n| 25 | section 380 | Application for an exemption from the operation of Division 2 of Part 3.5 of the Co‑operatives National Law (Victoria) | 84 fee units |\n| 26 | section 396(2) | Application to the Registrar for consent to the procedure for a proposed merger or transfer of engagements | 5·5 fee units |\n| 27 | section 397(2) | Application for approval of a disclosure statement concerning a proposed merger or transfer of engagements | 19·5 fee units |\n|  |  |  |  |\n| 28 | section 397(4) | Application for an exemption from the requirement for a disclosure statement concerning a proposed merger or transfer of engagements | 19·5 fee units |\n| 29 | section 398(1) | Application for the approval of a merger or transfer of engagements | 5·5 fee units |\n| 30 | section 404(4) | Application for an exemption from the requirements that must be met before an application can be made for a transfer of incorporation | 19·5 fee units |\n| 31 | section 416(1)(a) | Application to the Registrar for permission for a shorter notice period to the Registrar of the hearing of an application for a binding compromise or arrangement | 2·2 fee units |\n|  |  |  |  |\n|  |  |  |  |\n|  |  |  |  |\n|  |  |  |  |\n| 32 | section 418(1)(f) | Application for an exemption from the prohibition on an officer or promoter of a co‑operative or related corporation being appointed to administer a compromise or arrangement | 19·5 fee units |\n| 33 | section 424(1)(b) | Application to the Registrar for a statement that the Registrar has no objection to a compromise or arrangement | 19·5 fee units |\n| 34 | section 428(1) | Application for the approval of an explanatory statement | 84 fee units |\n| 35 | section 445(3) | Application for an exemption from compliance with the restrictions on voluntary winding up | 19·5 fee units |\n|  |  |  |  |\n|  |  |  |  |\n|  |  |  |  |\n|  |  |  |  |\n|  |  |  |  |\n|  |  |  |  |\n|  |  |  |  |\n| 36 | section 476(2)(a) | Application to the Registrar for consent to a procedure for approving a proposed merger or transfer of engagements involving a local co‑operative and a participating co‑operative | 5·5 fee units |\n| 37 | section 477(2) | Application for approval of a disclosure statement concerning a merger or transfer of engagements involving a local co‑operative and a participating co‑operative | 19·5 fee units |\n| 38 | section 477(4) | Application for an exemption from the requirement for a disclosure statement for a merger or transfer of engagements involving a local co-operative and a participating co‑operative | 19·5 fee units |\n|  |  |  |  |\n|  |  |  |  |\n|  |  |  |  |\n| 39 | section 478(1) | Application for approval of a merger or transfer of engagements that involves a local co‑operative and a participating co‑operative | 19·5 fee units |\n| 40 | section 531(1)(a) | Application to the Registrar to call a special meeting | 19·5 fee units |\n| 41 | section 531(1)(b) | Application to the Registrar to hold, or appoint an inspector to hold, an inquiry | 37·4 fee units |\n| 42 | section 588 | Application to the Registrar for certificate of evidence | 5·5 fee units |\n| 43 | section 609(1) | Application to the Registrar to grant an extension or shortening of time limits | 5·5 fee units |\n| 44 | section 611(2)(c)(iii) | Application for permission from the Registrar to allow a co‑operative to give service to a member by publishing a notice in a relevant newspaper | 5·5 fee units |\n\n\n(2) An application under regulation 1.4(5) of the Co‑operatives National Regulations (Victoria) must be accompanied by an application fee of 19·5 fee units.\n\n\t14 Document fees\n\nA document that is required to be submitted to, or lodged or filed with, the Registrar under a provision of the Co‑operatives National Law (Victoria) specified in Column 2 of the following Table must be accompanied by a fee of the amount specified opposite that provision in Column 4.\n\n**Table**\n\n| *Column 1*<br>*Item* | *Column 2*<br>*Provision of Co‑operatives National Law (Victoria)* | *Column 3*<br>*Description of document to be submitted, lodged or filed* | *Column 4*<br>*Document fee* |\n| --- | --- | --- | --- |\n| 1 | section 23(1)(a) | Submission of draft rules before the formation meeting | 5·5 fee units |\n| 2 | section 23(1)(b) | Submission of a draft formation disclosure statement before the formation meeting | 19·5 fee units |\n| 3 | section 60(4) | Submission of draft amendment of rules for approval | 5·5 fee units |\n| 4 | section 248(5) | Submission of draft disclosure statement for approval for the purpose of a special postal ballot | 19·5 fee units |\n| 5 | section 289 | Lodgement of annual report by large co‑operative | 19·5 fee units |\n| 6 | section 293 | Lodgement of annual return by small co‑operative | 5·5 fee units |\n| 7 | section 338(4) | Submission of draft disclosure statement for approval concerning the issue of debentures | 19·5 fee units |\n| 8 | section 343(7) | Submission of draft disclosure statement for approval concerning a compulsory loan by members to a co‑operative | 19·5 fee units |\n| 9 | section 425(4) | Filing of an office copy of an order made by the Supreme Court under section 425 of the Co‑operatives National Law (Victoria) | 2·2 fee units |\n\n\n\t15 Application for exemption or modification—Chapter 6D of the Corporations Act\n\n(1) For the purposes of section 741 of the Corporations Act, as applied by section 337 of the Co‑operatives National Law (Victoria), a co‑operative may apply to the Registrar for—\n\n(a) an exemption from a provision of Chapter 6D of the Corporations Act; or\n\n(b) a declaration that Chapter 6D of the Corporations Act applies to the co‑operative as if specified provisions were omitted, modified or varied as specified in the declaration.\n\n**Note**\n\nSee also section 15(2)(b) of the Co‑operatives National Law (Victoria).\n\n(2) An application under subregulation (1) must be accompanied by an application fee of 84 fee units.\n\n\t16 Fee for lodgement of disclosure documents for issue of debentures—Chapter 6D of the Corporations Act\n\nA disclosure document for an issue of debentures that is required or authorised to be lodged with the Registrar under section 718, 719 or 719A of the Corporations Act, as applied by section 337 of the Co‑operatives National Law (Victoria), must be accompanied by a fee of 171·2 fee units.\n\n**Note**\n\nSee also section 15(2)(b) of the Co‑operatives National Law (Victoria).\n\n\t17 Fee for application to deregister co‑operative—section 601AA of the Corporations Act\n\nAn application to deregister a co‑operative that is lodged with the Registrar under section 601AA of the Corporations Act, as applied by section 453 of the Co‑operatives National Law (Victoria), must be accompanied by an application fee of 19·5 fee units.\n\n**Note**\n\nSee also section 15(2)(b) of the Co‑operatives National Law (Victoria).\n\n\t18 Waiver, reduction or refund of fees\n\nThe Registrar may waive, reduce or refund, in whole or in part, any fee imposed under these Regulations for the purposes of the Co‑operatives National Law (Victoria) or the Co‑operatives National Regulations (Victoria) if, in the opinion of the Registrar, there are special circumstances that apply.\n\n\t19 Infringement penalties\n\n(1) For the purposes of section 27(1) of the Act, an offence against a provision of the Co-operatives National Law (Victoria) specified in Column 2 of Schedule 1 is prescribed as an infringement offence.\n\n(2) For the purposes of section 27(3) of the Act, the prescribed infringement penalty for an infringement offence specified in Column 2 of Schedule 1 is the amount specified opposite that infringement offence in Column 3 of that Schedule.\n\n\t20 Model rules for government guarantee co‑operatives\n\nFor the purposes of section 28A of the Act, the prescribed modifications to the model rules in Schedule 7 to the Co‑operatives National Regulations (Victoria) are set out in Schedule 2.\n\n**Notes**\n\n1 Section 28A of the Act provides that the model rules for a co‑operative in respect of which a government guarantee exists under Division 6 of Part 3 of the **Co‑operatives Act 1996** are the model rules prescribed under the Co‑operatives National Law (Victoria) for non‑distributing co‑operatives with share capital, subject to the modifications prescribed by these Regulations. The model rules for a non‑distributing co‑operative with share capital are set out in Schedule 7 to the Co‑operatives National Regulations (Victoria)—see regulation 2.2(c) of those Regulations.\n\n2 Section 37 of the Act provides that the repeal of the **Co‑operatives Act 1996** does not affect the operation of Division 6 of Part 3 of that Act on and after the date of the repeal, and that Division continues to operate as if that Act had not been repealed.\n\nSchedule 1—Prescribed infringement offences and penalties\n\nRegulation 19\n\n| *Column 1*<br>*Item* | *Column 2*<br>*Provision of    Co‑operatives National Law (Victoria)* | *Column 3*<br>*Prescribed Infringement Penalty* |\n| --- | --- | --- |\n| 1 | section 116 | $500 |\n| 2 | section 120(2) | $500 |\n| 3 | section 212(1) | $500 |\n| 4 | section 214(6) | $500 |\n| 5 | section 214(8) | $500 |\n| 6 | section 216 | $500 |\n| 7 | section 217(1) | $500 |\n| 8 | section 219(2) | $500 |\n| 9 | section 220(4) | $500 |\n| 10 | section 223(1) | $500 |\n| 11 | section 226(1) | $500 |\n| 12 | section 226(3) | $500 |\n| 13 | section 226(4) | $500 |\n| 14 | section 243(1) | $500 |\n| 15 | section 265(2) | $625 |\n| 16 | section 289(1) | $625 |\n| 17 | section 290(1) | $625 |\n| 18 | section 293(1) | $250 |\n\n\nSchedule 2—Modifications to model rules for co‑operatives supported by government guarantees\n\nRegulation 20\n\n1 After model rule 3 set out in Schedule 7 to the Co‑operatives National Regulations (Victoria) **insert**—\n\n\"3A Objects\n\nThe objects of the co‑operative are expressly restricted to—\n\n(a) acquiring and providing and maintaining lands and buildings and providing furnishings, requisites and equipment for education, recreation or other community purposes and to promoting and assisting clubs, co‑operatives or in particular the school council for any such purpose; and\n\n(b) promoting and carrying out any charitable or benevolent purpose; and\n\n(c) doing all such things calculated to improve the conditions of community life—\n\nand there is an express prohibition on acting beyond the preceding objects.\n\n3B Powers incidental to objects\n\nThe co‑operative shall have the following powers—\n\n(a) to raise money on loan for any objects of the co‑operative;\n\n(b) subject to first obtaining the Treasurer's approval, to acquire shares in any other co‑operative.\".\n\n2 In model rule 4(1) set out in Schedule 7 to the Co‑operatives National Regulations (Victoria), for the primary activities of the co‑operative **insert**—\n\n\"to underwrite or in some manner provide security, partially or fully, for a loan for a community benefit that is guaranteed by the State of Victoria.\".\n\n3 In model rule 4(2) set out in Schedule 7 to the Co‑operatives National Regulations (Victoria), for the active membership requirements **insert**—\n\n\"hold a share in the co‑operative and be a parent of a child attending, or an employee or a supporter of, the institution receiving the benefit of the loan that is guaranteed by the State of Victoria.\".\n\n4 Model rule 12(3)(c) set out in Schedule 7 to the Co‑operatives National Regulations (Victoria)  is **omitted**.\n\n5 For model rule 14 set out in Schedule 7 to the Co‑operatives National Regulations (Victoria) **substitute**—\n\n\"**14 Fines**\n\nThe co‑operative will refrain in all circumstances from exercising the power provided by section 126 of the Co‑operatives National Law (Victoria) to fine members.\".\n\n6 For model rule 16 set out in Schedule 7 to the Co‑operatives National Regulations (Victoria) **substitute**—\n\n\"**16 Capital and shares (CNL ss 76–82)**\n\n(1) The capital of the co‑operative must be raised by the issue of shares of nominal value of $1 each.\n\n(2) Every member shall hold at least five (5) shares paid up to the value of 10 cents on each share, but no member shall hold shares exceeding the nominal value of $1500, nor shall any member hold more than 20 per cent of the shares in the co‑operative.\n\n(3) A share in the co‑operative does not carry a vote.\n\n(4) The right to vote in the co‑operative is attached to membership and governed by section 228 of the Law.\n\n**Note**\n\nUnder section 82 of the Law, the co‑operative is authorised to require members of a distributing co‑operative to take up or subscribe for additional shares under a proposal approved by special resolution.\".\n\n7 For model rule 17(1) set out in Schedule 7 to the Co‑operatives National Regulations (Victoria) **substitute**—\n\n\"(1) Except with the consent of the Registrar or at the direction of the Registrar, the co‑operative must not make calls on any amount unpaid on shares while any part of the loan to which the guarantee relates is still owing.\".\n\n═════════════\n\nEndnotes\n\n1 General information\n\nSee [www.legislation.vic.gov.au](http://www.legislation.vic.gov.au) for Victorian Bills, Acts and current Versions of legislation and up-to-date legislative information.\n\nThe Co-operatives National Law (Victoria) Local Regulations 2024, S.R. No. 9/2024 were made on 13 February 2024 by the Governor in Council under section 28 of the **Co-operatives National Law Application Act 2013**, No. 9/2013 and came into operation on 17 February 2024: regulation 3.\n\nThe Co-operatives National Law (Victoria) Local Regulations 2024 will sunset 10 years after the day of making on 13 February 2034 (see section 5 of the **Subordinate Legislation Act 1994**).\n\nINTERPRETATION OF LEGISLATION ACT 1984 (ILA)\n\nStyle changes\n\nSection 54A of the ILA authorises the making of the style changes set out in Schedule 1 to that Act.\n\nReferences to ILA s. 39B\n\nSidenotes which cite ILA s. 39B refer to section 39B of the ILA which provides that where an undivided regulation, rule or clause of a Schedule is amended by the insertion of one or more subregulations, subrules or subclauses the original regulation, rule or clause becomes subregulation, subrule or subclause (1) and is amended by the insertion of the expression \"(1)\" at the beginning of the original regulation, rule or clause.\n\nInterpretation\n\nAs from 1 January 2001, amendments to section 36 of the ILA have the following effects:\n\n• Headings\n\nAll headings included in a Statutory Rule which is made on or after  \n1 January 2001 form part of that Statutory Rule. Any heading inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule.  \nThis includes headings to Parts, Divisions or Subdivisions in a Schedule; Orders; Parts into which an Order is divided; clauses; regulations; rules; items; tables; columns; examples; diagrams; notes or forms.  \nSee section 36(1A)(2A)(2B).\n\n• Examples, diagrams or notes\n\nAll examples, diagrams or notes included in a Statutory Rule which is made on or after 1 January 2001 form part of that Statutory Rule. Any examples, diagrams or notes inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, form part of that Statutory Rule. See section 36(3A).\n\n• Punctuation\n\nAll punctuation included in a Statutory Rule which is made on or after  \n1 January 2001 forms part of that Statutory Rule. Any punctuation inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule.  \nSee section 36(3B).\n\n• Provision numbers\n\nAll provision numbers included in a Statutory Rule form part of that Statutory Rule, whether inserted in the Statutory Rule before, on or after  \n1 January 2001. Provision numbers include regulation numbers, rule numbers, subregulation numbers, subrule numbers, paragraphs and subparagraphs. See section 36(3C).\n\n• Location of \"legislative items\"\n\nA \"legislative item\" is a penalty, an example or a note. As from 13 October 2004, a legislative item relating to a provision of a Statutory Rule is taken to be at the foot of that provision even if it is preceded or followed by another legislative item that relates to that provision. For example, if a penalty at the foot of a provision is followed by a note, both of these legislative items will be regarded as being at the foot of that provision. See section 36B.\n\n• Other material\n\nAny explanatory memorandum, table of provisions, endnotes, index and other material printed after the Endnotes does not form part of a Statutory Rule. See section 36(3)(3D)(3E).\n\n2 Table of Amendments\n\nThere are no amendments made to the Co-operatives National Law (Victoria) Local Regulations 2024 by statutory rules, subordinate instruments and Acts.\n\n3 Explanatory details\n\n1. Reg. 4: S.R. No. 3/2014.\n\n  ——\n\n  **Fee Units**\n\n  These Regulations provide for fees by reference to fee units within the meaning of the **Monetary Units Act 2004**.\n\n  The amount of the fee is to be calculated, in accordance with section 7 of that Act, by multiplying the number of fee units applicable by the value of a fee unit.\n\n  The value of a fee unit for the financial year commencing 1 July 2023 is $15.90. The amount of the calculated fee may be rounded to the nearest 10 cents.\n\n  The value of a fee unit for future financial years is to be fixed by the Treasurer under section 5 of the **Monetary Units Act 2004**. The value of a fee unit for a financial year must be published in the Government Gazette and a Victorian newspaper before 1 June in the preceding financial year. [↑](#endnote-ref-1)","sortOrder":0}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":true,"description":"The Regulations revoke the 2014 local regulations (reg 4) and re‑prescribe administrative matters: detailed fees, application and document filing requirements (regs 12–14, 16–17), infringement offences and penalties (reg 19; Schedule 1), exemption procedures and Registrar discretions (regs 7–8, 11, 18), and bespoke model‑rule modifications for government‑guaranteed co‑operatives (reg 20; Schedule 2). This updates and refines administrative and fiscal settings rather than creating new substantive regulatory powers."},"complexity_factors":["Extensive fee schedules with many distinct application and document fees tied to fee units (regs 12–14, 16–17; Explanatory details on fee units), requiring arithmetic conversion and annual value updates under the Monetary Units Act.","Broad Registrar discretion to grant, vary or revoke exemptions and to waive, reduce or refund fees (regs 7(2),(5); 8(2),(5); 11; 18) which creates case-by-case administrative decision-making and potential uncertainty for applicants.","Cross‑statutory interactions with Commonwealth Acts and legacy state Acts (Banking Act 1959; Life Insurance Act 1995; Corporations Act—regs 7(1)(a),(b), 9, 15–17; references to Co‑operation Act 1953 and Co‑operatives Act 1996) increasing compliance and interpretive complexity.","Prescribed infringement offences and fixed monetary penalties across multiple substantive provisions (reg 19; Schedule 1) impose standardized enforcement costs but require mapping to underlying offences.","Targeted modifications to model rules for government‑guaranteed co‑operatives that alter objects, membership criteria, capital and powers (reg 20; Schedule 2), creating a separate sub‑regime with bespoke limits and approvals (Treasurer/Registrar involvement).","Detailed prescribed allowances for witnesses/involved persons with hourly and daily caps and travel/accommodation limits (reg 10), adding administrative calculation and proof burdens for reimbursement claims.","Lengthy, itemised application/filing regime with many specific triggers for fees and different fee levels (reg 13 table; reg 14 table), increasing transactional compliance work for co‑operatives and their advisers.","Regulatory replacement and temporal effects (revocation of 2014 Regulations—reg 4; sunset in Endnotes), which create transitional and continuity considerations for regulated entities."],"plain_english_summary":"These Regulations replace the 2014 local rules and set the administrative rules for co‑operatives in Victoria: they prescribe who may use “co‑operative” in a name, a long schedule of application and document fees, prescribed allowances for persons examined by the regulator, specified infringement offences and fixed penalties, and tailored model rules for co‑operatives supported by government guarantees. The measures mostly affect co‑operatives, corporations applying for name/use exemptions, applicants to the Registrar and members who must pay fees or face infringement penalties."},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"The regulations remain tightly focused on their original purpose: setting fees, prescribing administrative procedures, and providing Victorian-specific modifications to the national co-operatives framework. The inclusion of government guarantee co-operatives (Schedule 2) continues a long-standing Victorian-specific arrangement rather than representing scope creep."},"complexity_factors":["Extensive fee tables with 44+ separate fee items calculated in 'fee units' requiring conversion via the Monetary Units Act 2004","Multiple cross-references to the Co-operatives National Law (Victoria), Co-operatives National Regulations (Victoria), Corporations Act 2001, and Banking Act 1959","Nested exemption provisions with conditions, time limits, and revocation powers (regulations 7 and 8)","Schedule 2 modifies model rules by reference to another legislative instrument (Schedule 7 to the Co-operatives National Regulations), requiring readers to consult two documents simultaneously","Application of Corporations Act provisions (Chapter 6D, section 601AA) via 'as applied by' mechanics in the Co-operatives National Law","Historical carve-outs referencing pre-1953 legislation and repealed Acts (Co-operation Act 1953, Co-operatives Act 1996)"],"plain_english_summary":"These regulations set the administrative rules for co-operatives (member-owned businesses) operating in Victoria under the national co-operatives scheme.\n\n**What it does:**\n- **Sets fees** for registering, running and changing co-operatives (calculated in \"fee units\" — currently $15.90 each). For example, registering a new co-operative costs 2.2 fee units (about $35), while complex applications like share offers cost up to 171.2 fee units (about $2,722).\n- **Lists who can use the word \"co-operative\"** in their name without actually being a registered co-operative — mainly banks, credit unions, friendly societies, and older organisations that existed before 1953.\n- **Sets allowances** for people required to attend examinations or inquiries about co-operatives (up to $805 per day plus travel and accommodation expenses).\n- **Creates infringement offences** — minor rule breaches (like failing to display the co-operative's name at its office) that attract $500-$625 fines without going to court.\n- **Special rules for government-backed co-operatives** — modifies the standard rules for community co-operatives that have State of Victoria loan guarantees (mainly school-related community groups), restricting their objects, limiting shareholdings to $1,500 per member, and removing voting rights attached to shares.\n\n**Who it affects:**\n- People starting or running co-operatives in Victoria\n- Members of community co-operatives with government loan guarantees\n- Credit unions, building societies and friendly societies\n- The Registrar of Co-operatives (who administers the system)\n\n**Why it matters:**\nCo-operatives need certainty about costs and procedures. These regulations provide the \"nuts and bolts\" — the fee schedule, forms of words for exemptions, and special provisions for unique Victorian arrangements like government-guaranteed school co-operatives that don't fit the standard national model."},"summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"Based on the available text, this appears to be a straightforward local regulatory instrument supporting the existing Co-operatives National Law as applied in Victoria. There is no evidence of scope expansion beyond the original intent of providing Victorian-specific administrative rules to complement the national framework. However, the severely limited content provided prevents a definitive assessment."},"complexity_factors":["Operates as a local layer within a broader national co-operative law framework, requiring readers to cross-reference the national law to understand full effect","Co-operatives law itself can be technical, involving corporate governance, member liability, and financial reporting concepts","The document provided is almost entirely metadata and version history, making the actual substantive content of the regulations impossible to assess fully","Intergovernmental nature (national law plus state local regulations) adds a layer of structural complexity for lay readers"],"plain_english_summary":"These local regulations set the Victoria‑specific rules that sit alongside the Co‑operatives National Law, affecting members, new co‑operatives, boards/managers and regulators by prescribing practical administrative requirements in the state.\n\nThey matter because they govern how Victorian co‑operatives register, pay fees and meet reporting and compliance processes. Note: the supplied document contains mostly version/formatting metadata, so detailed obligations aren’t available from the text provided."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/co-operatives-national-law-victoria-local-regulations-2024","history":"/api/acts/co-operatives-national-law-victoria-local-regulations-2024/history","analysis":"/api/acts/co-operatives-national-law-victoria-local-regulations-2024/analysis","conflicts":"/api/acts/co-operatives-national-law-victoria-local-regulations-2024/conflicts","importantCases":"/api/acts/co-operatives-national-law-victoria-local-regulations-2024/important-cases","documents":"/api/acts/co-operatives-national-law-victoria-local-regulations-2024/documents"}}