32Requirements for registration

32 Requirements for registration

32 Requirements for registration

(1) When an application is made for the registration of a corporation as a co-operative under this Division, the Registrar must register the corporation as a co-operative under this Law and register its rules under this Law if the Registrar is satisfied the requirements for the registration of the corporation as a co-operative have been met.

(2) The requirements for the registration of a corporation as a co-operative under this Division are as follows—

(a) the proposed rules of the proposed co-operative must be the rules approved by the Registrar under section 24;

(b) the requirements of this Law must have been complied with in relation to the proposed co-operative;

(c) there must be no reasonable cause for refusing registration of the proposed co-operative;

(d) the proposed co-operative must have a sufficient connection with this jurisdiction.

(3) If the Registrar is not satisfied the requirements for registration of the corporation as a co-operative have been met, the Registrar may refuse to register the proposed co-operative and its rules and must give to the applicant written notice of the refusal and the reasons for the refusal.

(4) If the Registrar has decided under this section to register a corporation under this Law, the corporation must notify the authority responsible for registering the corporation under the law under which it was previously registered of that decision.

(5) 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.

(6) The corporation must notify the Registrar in writing within 7 days after ceasing to be registered under that other law.