Co-operatives National Law (Queensland)
sec.476Requirements before application can be made
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sec.476 Requirements before application can be made
Before a local co-operative and a participating co-operative can apply for approval under this Part of a merger or transfer of engagements, the proposed merger or transfer must have been approved by each of the co-operatives— by a special resolution passed by special postal ballot; or if permitted by subsection (2) , by a special resolution, or by a resolution of the board, of the co-operative. The proposed merger or transfer of engagements may be approved by special resolution, or by resolution of the board, of the co-operative if— the local Registrar consents to that procedure applying in the particular case; and the participating Registrar also consents to that procedure applying in the particular case. A consent referred to in subsection (2) may be granted subject to conditions, including any condition that a disclosure statement be provided to members or directors. A co-operative that contravenes a condition of a consent is taken not to have been given consent. (sec.476-ssec.1) Before a local co-operative and a participating co-operative can apply for approval under this Part of a merger or transfer of engagements, the proposed merger or transfer must have been approved by each of the co-operatives— by a special resolution passed by special postal ballot; or if permitted by subsection (2) , by a special resolution, or by a resolution of the board, of the co-operative. (sec.476-ssec.2) The proposed merger or transfer of engagements may be approved by special resolution, or by resolution of the board, of the co-operative if— the local Registrar consents to that procedure applying in the particular case; and the participating Registrar also consents to that procedure applying in the particular case. (sec.476-ssec.3) A consent referred to in subsection (2) may be granted subject to conditions, including any condition that a disclosure statement be provided to members or directors. (sec.476-ssec.4) A co-operative that contravenes a condition of a consent is taken not to have been given consent.
- (a) by a special resolution passed by special postal ballot; or
- (b) if permitted by subsection (2) , by a special resolution, or by a resolution of the board, of the co-operative.
- (a) the local Registrar consents to that procedure applying in the particular case; and
- (b) the participating Registrar also consents to that procedure applying in the particular case.