390Additional powers of Registrar

390 Additional powers of Registrar

(1) If the Registrar appoints directors of a co-operative under section 387, the Registrar may, by written notice given to the co-operative, state:

(a) a time during which this section is to apply to the co-operative; and

(b) the terms on which all or any of the directors hold office; and

(c) the rules that are to be the rules of the co-operative.

(2) While this section applies to a co-operative, the Registrar may:

(a) remove and appoint directors; and

(b) vary, revoke or state new terms in place of all or any of the terms stated under subsection (1); and

(c) amend all or any of the rules stated under subsection (1).

(3) The Registrar may, by written notice given to the co-operative, extend the time for which this section is to apply to a co-operative.

(4) A rule stated by the Registrar under this section to be a rule of a co-operative:

(a) must not to be amended other than in the way set out in this section; and

(b) if it is inconsistent with another rule of the co-operative—prevails over the other rule (and the other rule is inoperative to the extent of the inconsistency); and

(c) has the same evidentiary value as is by this Law accorded to the rules of the co-operative and to copies of them.