35Conversion of co-operative

#### 35 Conversion of co-operative 35 Conversion of co-operative > > (1) A co-operative may, by amendment of its rules, convert from— > > > > > (a) a co-operative with share capital to a co-operative without share capital, or vice versa; or > > > > > (b) a distributing co-operative to a non-distributing co-operative, or vice versa. > > > (2) An amendment of the rules for the conversion of a co-operative with share capital to a co-operative without share capital cannot be passed until at least 2 weeks after a notice has been published in a newspaper circulating generally in the district in which the registered office of the co-operative is situated advising of the proposal to submit the proposed amendment to members of the co-operative. > > > (3) An amendment of the rules for the conversion of a non-distributing co-operative to a distributing co-operative does not have effect without the prior approval of the Registrar under section 60. > > > (4) An amendment of the rules for the conversion of a co-operative must be approved by special resolution passed by a special postal ballot. > > > (5) The Registrar may exempt— > > > > > (a) a co-operative from subsection (4) by designated instrument; or > > > > > (b) a class of co-operatives from subsection (4) by designated instrument. > > > (6) An exemption may be given unconditionally or subject to conditions.