sec.18Distributing co-operatives

sec.18 Distributing co-operatives

A distributing co-operative is a co-operative that is not prohibited from giving returns or distributions on surplus or share capital. A distributing co-operative must have share capital. A distributing co-operative must have a membership of— in the case of a co-operative group—2 or more co-operatives; or in the case of any other distributing co-operative— if a lesser number than 5 is approved by the Registrar—at least that number of active members; or otherwise—5 or more active members. An approval under subsection (3) may be given in relation to a particular co-operative or class of co-operatives. (sec.18-ssec.1) A distributing co-operative is a co-operative that is not prohibited from giving returns or distributions on surplus or share capital. (sec.18-ssec.2) A distributing co-operative must have share capital. (sec.18-ssec.3) A distributing co-operative must have a membership of— in the case of a co-operative group—2 or more co-operatives; or in the case of any other distributing co-operative— if a lesser number than 5 is approved by the Registrar—at least that number of active members; or otherwise—5 or more active members. (sec.18-ssec.4) An approval under subsection (3) may be given in relation to a particular co-operative or class of co-operatives.

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