Co-operatives National Law (Queensland)
sec.70Disclosure to intending shareholders in distributing co-operative
Start here
Get a plain-English read of sec.70
Turn the raw legal text into a practical explanation grounded in Co-operatives National Law (Queensland).
sec.70 Disclosure to intending shareholders in distributing co-operative
The board of a distributing co-operative must give a person who intends to acquire shares in the co-operative and is not already a shareholder in the co-operative— a current disclosure statement; and any other information the Registrar directs. The disclosure statement and any other information required under subsection (1) and Part 2.5 must be given before the person becomes bound to acquire the shares. (sec.70-ssec.1) The board of a distributing co-operative must give a person who intends to acquire shares in the co-operative and is not already a shareholder in the co-operative— a current disclosure statement; and any other information the Registrar directs. (sec.70-ssec.2) The disclosure statement and any other information required under subsection (1) and Part 2.5 must be given before the person becomes bound to acquire the shares.
- (a) a current disclosure statement; and
- (b) any other information the Registrar directs.