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Co-operatives (Adoption of National Law) Act 2012
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Turn the raw legal text into a practical explanation grounded in Co-operatives (Adoption of National Law) Act 2012.
206 Restriction on directors of certain co-operatives selling land to co-operative
A director of a co-operative, the primary activity of which is or includes the acquisition of land to settle or retain people on the land and of providing any community service or benefit, must not sell land to the co-operative except under a special resolution of the co-operative.
Maximum penalty—$24,000 or imprisonment for 2 years, or both.