sec.404Requirements before application can be made

sec.404 Requirements before application can be made

Before an application is made under section 403 , the co-operative must, by special resolution passed by a special postal ballot— approve the proposed application; and decide under what name the co-operative is to apply to be registered, incorporated or otherwise established; and adopt constituent documents that may be necessary or considered desirable. An application cannot be made under section 403 in respect of a co-operative without share capital unless— the application is made 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 special resolution to members of the co-operative; and either— in a case where the new body will have share capital—all the members of the co-operative will have an equal shareholding; or in any case—the Registrar approves in writing of the making of the application. The name applied for need not be the same as that of the co-operative and must not include the word “Co-operative” or another word or abbreviation importing a similar meaning. The Registrar may, by designated instrument, exempt a co-operative from compliance with a provision of this section and section 248 in relation to a matter to which this section applies. An exemption may be given unconditionally or subject to conditions. (sec.404-ssec.1) Before an application is made under section 403 , the co-operative must, by special resolution passed by a special postal ballot— approve the proposed application; and decide under what name the co-operative is to apply to be registered, incorporated or otherwise established; and adopt constituent documents that may be necessary or considered desirable. (sec.404-ssec.2) An application cannot be made under section 403 in respect of a co-operative without share capital unless— the application is made 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 special resolution to members of the co-operative; and either— in a case where the new body will have share capital—all the members of the co-operative will have an equal shareholding; or in any case—the Registrar approves in writing of the making of the application. (sec.404-ssec.3) The name applied for need not be the same as that of the co-operative and must not include the word “Co-operative” or another word or abbreviation importing a similar meaning. (sec.404-ssec.4) The Registrar may, by designated instrument, exempt a co-operative from compliance with a provision of this section and section 248 in relation to a matter to which this section applies. (sec.404-ssec.5) An exemption may be given unconditionally or subject to conditions.