sec.119Carrying on business with too few members

sec.119 Carrying on business with too few members

A person who is a director of a co-operative must not knowingly allow the co-operative to continue to carry on business with fewer than the minimum number of members allowed (under subsection (3) ) for more than 28 days after the number of members falls below that minimum number. Maximum penalty—$2,000. Each person who is found guilty of an offence under subsection (1) is also liable to satisfy all obligations of the co-operative incurred after the 28 days referred to in subsection (1) , and may be sued without any other member being joined in the action. The minimum number of members allowed is— in the case of a co-operative group—2 co-operatives; or in the case of any other co-operative— if a lesser number than 5 is approved by the Registrar—that number of active members; or otherwise—5 active members. See section 20 for composite approvals. The Registrar may, by written notice, extend and further extend in a particular case the period of 28 days referred to in subsection (1) . An application for an extension must be made in the approved form before the period to be extended ends. (sec.119-ssec.1) A person who is a director of a co-operative must not knowingly allow the co-operative to continue to carry on business with fewer than the minimum number of members allowed (under subsection (3) ) for more than 28 days after the number of members falls below that minimum number. Maximum penalty—$2,000. (sec.119-ssec.2) Each person who is found guilty of an offence under subsection (1) is also liable to satisfy all obligations of the co-operative incurred after the 28 days referred to in subsection (1) , and may be sued without any other member being joined in the action. (sec.119-ssec.3) The minimum number of members allowed is— in the case of a co-operative group—2 co-operatives; or in the case of any other co-operative— if a lesser number than 5 is approved by the Registrar—that number of active members; or otherwise—5 active members. See section 20 for composite approvals. (sec.119-ssec.4) The Registrar may, by written notice, extend and further extend in a particular case the period of 28 days referred to in subsection (1) . (sec.119-ssec.5) An application for an extension must be made in the approved form before the period to be extended ends.

• (a) in the case of a co-operative group—2 co-operatives; or
• (b) in the case of any other co-operative— (i) if a lesser number than 5 is approved by the Registrar—that number of active members; or (ii) otherwise—5 active members.
• (i) if a lesser number than 5 is approved by the Registrar—that number of active members; or
• (ii) otherwise—5 active members.
• (i) if a lesser number than 5 is approved by the Registrar—that number of active members; or
• (ii) otherwise—5 active members.