Div 5Registration of existing corporation

Division 5 Registration of existing corporation

29 Existing corporation can be registered

A corporation (other than a co-operative taken to be registered under this Law) may apply to the Registrar to be registered as a co-operative under this Law.

30 Formation meeting (existing corporation)

(1) Before applying for registration as a co-operative, the corporation must, at the formation meeting, by a resolution approve of:

(a) the proposed registration; and

(b) any amendment of its existing constituent documents necessary to enable the corporation to comply with this Law; and

(c) the proposed rules of the proposed co-operative approved under section 24, including active membership provisions.

(2) The formation disclosure statement approved under section 25 must be presented to the formation meeting, in the case of:

(a) a proposed distributing co-operative; or

(b) a proposed non-distributing co-operative that is the subject of a direction under section 23 (2).

(3) A resolution under this section must have been passed by a two-thirds majority of eligible members present at the formation meeting.

**Note.** Section 32 (5) provides that, despite anything to the contrary in this Division, the registration of a corporation as a co-operative does not take effect until the corporation ceases to be registered under the law under which it was previously registered.

31 Application for registration of existing corporation

An application for the registration of an existing corporation must:

(b) be accompanied by the fee:

(ii) prescribed by the local regulations; and

(c) be accompanied by:

(i) a written declaration, signed no more than 28 days before the application for registration by the directors or committee of management of the corporation, stating that at a meeting of the directors or committee they formed the opinion that the corporation will be able to pay its debts as they fall due; and

(ii) a report in the approved form as to the affairs of the corporation and showing its assets and liabilities, made up to the latest practicable date before the application; and

(iii) a copy of the constituent documents of the corporation in force at the date of the application; and

(iv) 2 copies of the proposed rules of the co-operative, as provided for by the special resolution; and

(v) in the case of a proposed distributing co-operative or in the case of a proposed non-distributing co-operative that is subject to a direction under section 23 (2)—a copy of the formation disclosure statement presented to the meeting held under section 30, certified by the directors or committee of management of the corporation; and