sec.287Consideration of reports at annual general meeting (cf Corporations Act s 317 )

sec.287 Consideration of reports at annual general meeting (cf Corporations Act s 317 )

The directors of a co-operative that is required to hold an annual general meeting must lay before the annual general meeting— in the case of a large co-operative— the financial report; and the directors’ report; and the auditor’s report; or in the case of a small co-operative—the financial reports required under section 284 ; for the last financial year that ended before the annual general meeting. If the co-operative’s first annual general meeting is held before the end of its first financial year, there will be no reports to lay before the meeting. Maximum penalty—$1,000 or imprisonment for 3 months, or both. An offence based on subsection (1) is an offence of strict liability. (sec.287-ssec.1) The directors of a co-operative that is required to hold an annual general meeting must lay before the annual general meeting— in the case of a large co-operative— the financial report; and the directors’ report; and the auditor’s report; or in the case of a small co-operative—the financial reports required under section 284 ; for the last financial year that ended before the annual general meeting. If the co-operative’s first annual general meeting is held before the end of its first financial year, there will be no reports to lay before the meeting. Maximum penalty—$1,000 or imprisonment for 3 months, or both. (sec.287-ssec.2) An offence based on subsection (1) is an offence of strict liability.

• (a) in the case of a large co-operative— (i) the financial report; and (ii) the directors’ report; and (iii) the auditor’s report; or
• (i) the financial report; and
• (ii) the directors’ report; and
• (iii) the auditor’s report; or
• (b) in the case of a small co-operative—the financial reports required under section 284 ;
• (i) the financial report; and
• (ii) the directors’ report; and
• (iii) the auditor’s report; or