16ADivisions 1 and 2 do not apply to consideration obtained by co-operative

16A Divisions 1 and 2 do not apply to consideration obtained by co-operative

Divisions 1 and 2 do not apply to consideration that has been obtained by a co‑operative, within the meaning of the Co‑operatives National Law (Victoria), through a compulsory acquisition of shares while that consideration is held by the co‑operative.

Under section 436 of the Co-operatives National Law (Victoria), consideration obtained by a co-operative through a compulsory acquisition of shares in the co‑operative that has been held in trust by the co‑operative for at least 2 years must be paid or transferred to the Registrar of Co-operatives.