Co-operatives Act 2009
Part 10Funds and property
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Part 10 — Funds and property
Division 1 — Power to raise money
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Meaning of obtaining financial accommodation 234
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Fund raising to be in accordance with Act and regulations 234
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Limits on deposit taking 234
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Members etc. not required to see to application of money 234
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Registrar’s directions about fundraising 235
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Subordinated debt 235
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Application of Corporations Act to issues of debentures 236
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Disclosure statement 237
253A. Restrictions on advertising and publicity 239
253B. Application money to be held on trust 239
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Approval of board for transfer of debentures 240
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Application of Corporations Act: reissue of redeemed debentures 240
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Compulsory loan by member to co‑operative 240
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Interest payable on compulsory loan 242
Division 2 — Co‑operative capital units
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General nature of co‑operative capital units 243
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Priority of CCU’s on winding‑up 244
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Financial accommodation provisions apply to issue of CCUs 244
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CCUs to be issued to non‑members 244
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Minimum requirements for rules concerning CCUs 244
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CCUs not to be issued unless terms of issue approved by Registrar 245
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Directors’ duties concerning CCUs 246
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Redemption of CCUs 246
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Capital redemption reserve 247
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Issue of shares in substitution for redemption 247
Division 3 — Charges
- Registration of charges 248
Division 4 — Receivers and other controllers of property of co‑operatives
- Receivers and other controllers of property of co‑operatives 248
Division 5 — Disposal of surplus from activities
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Retention of surplus for benefit of co‑operative 248
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Application for charitable purposes or members’ purposes 248
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Distribution of surplus or reserves to members 249