sec.35Conversion of co-operative

sec.35 Conversion of co-operative

A co-operative may, by amendment of its rules, convert from— a co-operative with share capital to a co-operative without share capital, or vice versa; or a distributing co-operative to a non-distributing co-operative, or vice versa. An amendment of the rules for the conversion of a co-operative with share capital to a co-operative without share capital cannot be passed until at least 2 weeks after a notice has been published in a newspaper circulating generally in the district in which the registered office of the co-operative is situated advising of the proposal to submit the proposed amendment to members of the co-operative. An amendment of the rules for the conversion of a non-distributing co-operative to a distributing co-operative does not have effect without the prior approval of the Registrar under section 60 . An amendment of the rules for the conversion of a co-operative must be approved by special resolution passed by a special postal ballot. The Registrar may exempt— a co-operative from subsection (4) by designated instrument; or a class of co-operatives from subsection (4) by designated instrument. An exemption may be given unconditionally or subject to conditions. (sec.35-ssec.1) A co-operative may, by amendment of its rules, convert from— a co-operative with share capital to a co-operative without share capital, or vice versa; or a distributing co-operative to a non-distributing co-operative, or vice versa. (sec.35-ssec.2) An amendment of the rules for the conversion of a co-operative with share capital to a co-operative without share capital cannot be passed until at least 2 weeks after a notice has been published in a newspaper circulating generally in the district in which the registered office of the co-operative is situated advising of the proposal to submit the proposed amendment to members of the co-operative. (sec.35-ssec.3) An amendment of the rules for the conversion of a non-distributing co-operative to a distributing co-operative does not have effect without the prior approval of the Registrar under section 60 . (sec.35-ssec.4) An amendment of the rules for the conversion of a co-operative must be approved by special resolution passed by a special postal ballot. (sec.35-ssec.5) The Registrar may exempt— a co-operative from subsection (4) by designated instrument; or a class of co-operatives from subsection (4) by designated instrument. (sec.35-ssec.6) An exemption may be given unconditionally or subject to conditions.

• (a) a co-operative with share capital to a co-operative without share capital, or vice versa; or
• (b) a distributing co-operative to a non-distributing co-operative, or vice versa.
• (a) a co-operative from subsection (4) by designated instrument; or
• (b) a class of co-operatives from subsection (4) by designated instrument.