Co-operatives National Regulation (Queensland)
sch.5-sec.67Disposal of surplus funds during a financial year (CNL ss355–358)
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sch.5-sec.67 Disposal of surplus funds during a financial year (CNL ss355–358)
The co-operative may dispose of any surplus arising in a financial year arising from the business of the co-operative in the manner authorised under the Law as determined by the board. A part of the surplus, but not more than ........%, arising in any year from the business of the co-operative may be applied for: charitable purposes; or supporting any activity approved by the co-operative. (sch.5-sec.67-ssec.1) The co-operative may dispose of any surplus arising in a financial year arising from the business of the co-operative in the manner authorised under the Law as determined by the board. (sch.5-sec.67-ssec.2) A part of the surplus, but not more than ........%, arising in any year from the business of the co-operative may be applied for: charitable purposes; or supporting any activity approved by the co-operative.
- (a) charitable purposes; or
- (b) supporting any activity approved by the co-operative.