Co-operatives Act 2009
Part 13Arrangements and reconstructions
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Part 13 — Arrangements and reconstructions
Division 1 — General requirements
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Requirements for binding compromise or arrangement 293
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Supreme Court ordered meeting of creditors 294
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Registrar to be given notice and opportunity to make submissions 294
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Results of 2 or more meetings 295
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Persons disqualified from administering compromise etc. 295
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Application of Schedule 4 to person appointed 296
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Application of Corporations Act to person appointed 296
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Copy of order to be attached to rules 296
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Directors to arrange for reports 297
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Power of Supreme Court to restrain further proceedings 298
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Supreme Court need not approve compromise or arrangement takeovers 298
Division 2 — Explanatory statements
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Explanatory statement required to accompany notice of meeting etc. 298
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Requirements for explanatory statement 300
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Contravention of Division: offence by co‑operative 301
Division 3 — Facilitating reconstructions and mergers
- Provisions for facilitating reconstructions and mergers 301
Division 4 — Acquisition of shares of dissenting shareholders
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Terms used 303
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Schemes and contracts to which Division applies 303
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Acquisition of shares pursuant to notice to dissenting shareholder 304
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Restrictions when excluded shares exceed 10% 305
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Remaining shareholders may require acquisition 305
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Transfer of shares pursuant to compulsory acquisition 306
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Disposal of consideration for shares compulsorily acquired 307
Division 5 — Miscellaneous
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Notification of appointment of scheme manager 308
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Power of Supreme Court to require reports 308
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Effect of out‑of‑jurisdiction compromise or arrangement 309
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Jurisdiction to be exercised in harmony with Corporations Act jurisdiction 309