248Special postal ballots

248 Special postal ballots

(1) A special postal ballot is a postal ballot that is conducted in accordance with this section.

(2) The ballot must not be held less than 28 days after notice of the ballot is given to members.

**Note.** This period is intended to enable sufficient time for a meeting to be called (whether by the board or on the requisition of members) and held to discuss the proposal the subject of the ballot.

(3) The co-operative must send to each member (along with any other material required to be sent in relation to the postal ballot) a disclosure statement approved by the Registrar and containing information about:

(a) the financial position of the co-operative; and

(b) the interests of the directors of the co-operative in the proposal with which the ballot is concerned, including any interests of the directors in another organisation concerned in the proposal; and

(c) any compensation or consideration to be paid to officers or members of the co-operative in connection with the proposal; and

(d) any other matters the Registrar directs.

(4) If the Registrar so requires, the disclosure statement is to be accompanied by a report made by an independent person approved by the Registrar about any matters the Registrar directs.

(5) A draft disclosure statement must be submitted to the Registrar at least 28 days (or the shorter period the Registrar may allow in a particular case) before the notice of the special postal ballot is to be given to members.

(6) Section 25 (except subsections (1), (2) and (3)) applies to a disclosure statement under this section with any necessary modifications, and in particular as if a reference in that section to a formation meeting were a reference to the notice of the special postal ballot.

**Note.** Sections 380 and 445 provide for exemptions from this section in certain circumstances.