Co-operatives National Law (NSW)
207Management contracts
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207 Management contracts
207 Management contracts
(1) A co-operative must not enter into a management contract unless the contract has first been approved by special resolution.
(2) A management contract entered into in contravention of subsection (1) is void.
(3) In this section—
management contract means a contract or other arrangement under which—
(a) a person who is not an officer of the co-operative agrees to perform the whole, or a substantial part, of the functions of the co-operative, whether under the control of the co-operative or not; or
(b) a co-operative agrees to perform the whole or a substantial part of its functions—
(i) in a particular way; or
(ii) in accordance with the directions of any person; or
(iii) subject to stated restrictions or conditions.