Co-operatives National Law (Queensland)
sec.211Certain interests need not be declared
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sec.211 Certain interests need not be declared
The interest in a contract or proposed contract that a director is required by this Division to declare does not include an interest in— a contract or proposed contract for a purchase of goods and services by the director from the co-operative; or a lease of land to the director by the co-operative; or a contract or proposed contract for the sale of agricultural products or livestock by the director to the co-operative; or a contract or proposed contract that, under the rules of the co-operative, may be made between the co-operative and a member; or a contract or proposed contract of a class of contracts prescribed by the National Regulations for the purposes of this section; but only if the contract is made in good faith, in the ordinary course of the business of the co-operative, and on the terms that are usual and proper in similar dealings between the co-operative and its members.
- (a) a contract or proposed contract for a purchase of goods and services by the director from the co-operative; or
- (b) a lease of land to the director by the co-operative; or
- (c) a contract or proposed contract for the sale of agricultural products or livestock by the director to the co-operative; or
- (d) a contract or proposed contract that, under the rules of the co-operative, may be made between the co-operative and a member; or
- (e) a contract or proposed contract of a class of contracts prescribed by the National Regulations for the purposes of this section;