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Co-operatives National Law Application Act 2013
76Shares—general
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76 Shares—general
(1) The share capital of a co-operative varies in amount according to the nominal value of shares from time to time subscribed.
(2) Shares are to be of a fixed amount that must be specified in the rules of the co-operative.
(3) A co-operative may have more than one class of shares if the shareholding and the rights of shareholders comply with the co-operative principles.
(4) Subject to this Part and Part 2.5, shares must not be issued to a non-member.