224Change of name of co-operative

224 Change of name of co-operative

224 Change of name of co-operative

(1) A co-operative may by special resolution change its name to a name approved by the Registrar.

(2) A change of name must be advertised as prescribed by the National Regulations.

(3) A change of name does not take effect until—

(a) the Registrar has noted the change on the certificate of registration of the co-operative; or

(b) the certificate of registration is surrendered to the Registrar and a replacement certificate of registration is issued in the new name.

(4) A change of name by a co-operative does not affect—

(a) the identity of the co-operative; or

(b) the exercise of a right, or the enforcement of an obligation, by or against the co-operative or a person; or

(c) the continuation of legal proceedings by or against the co-operative.

(5) Legal proceedings that might have been continued or started by or against the co-operative in its former name may be continued or started by or against the co-operative in its new name.

(6) The Registrar may refuse to approve a change of name if the Registrar thinks the new name is unsuitable.

(7) The Registrar may direct a co-operative to change its name if the Registrar considers the name is likely to be confused with the name of a corporation or a registered business name. The co-operative must comply with the direction.

Maximum penalty—$500.

(8) An offence based on subsection (7) is an offence of strict liability.