Co-operatives National Law Act 2020
sec.58Share capital of cooperative
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sec.58 Share capital of cooperative
The share capital of a cooperative under the repealed Act immediately before the commencement continues to be the share capital of the co-operative under the Law. A share in a cooperative held by a person under the repealed Act immediately before the commencement continues to be held by the person under the Law. An amount unpaid for shares under the repealed Act immediately before the commencement is taken to be an amount unpaid for the shares under the Law. (sec.58-ssec.1) The share capital of a cooperative under the repealed Act immediately before the commencement continues to be the share capital of the co-operative under the Law. (sec.58-ssec.2) A share in a cooperative held by a person under the repealed Act immediately before the commencement continues to be held by the person under the Law. (sec.58-ssec.3) An amount unpaid for shares under the repealed Act immediately before the commencement is taken to be an amount unpaid for the shares under the Law.