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Co-operatives National Law Application Act 2013
70Disclosure to intending shareholders in distributing co-operative
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70 Disclosure to intending shareholders in distributing co-operative
(1) The board of a distributing co-operative must give a person who intends to acquire shares in the co-operative and is not already a shareholder in the co-operative:
(a) a current disclosure statement; and
(b) any other information the Registrar directs.
(2) The disclosure statement and any other information required under subsection (1) and Part 2.5 must be given before the person becomes bound to acquire the shares.