404Requirements before application can be made

404 Requirements before application can be made

(1) Before an application is made under section 403, the co-operative must, by special resolution passed by a special postal ballot:

(a) approve the proposed application; and

(b) decide under what name the co-operative is to apply to be registered, incorporated or otherwise established; and

(c) adopt constituent documents that may be necessary or considered desirable.

(2) An application cannot be made under section 403 in respect of a co-operative without share capital unless:

(a) the application is made 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 special resolution to members of the co-operative; and

(b) either:

(i) in a case where the new body will have share capital—all the members of the co-operative will have an equal shareholding; or

(ii) in any case—the Registrar approves in writing of the making of the application.

(3) The name applied for need not be the same as that of the co-operative and must not include the word “Co-operative” or another word or abbreviation importing a similar meaning.

(4) The Registrar may, by designated instrument, exempt a co-operative from compliance with a provision of this section and section 248 in relation to a matter to which this section applies.

(5) An exemption may be given unconditionally or subject to conditions.