Co-operatives National Regulation (Queensland)
sch.5-sec.8Cessation of membership (CNL s117)
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sch.5-sec.8 Cessation of membership (CNL s117)
A person ceases to be a member in any of the following circumstances: if the membership ceases in any circumstances specified in section 117 of the Law; if the member’s total shareholding is transferred to another person and the transferee is registered as the holder of the shareholding; if the member’s total shareholding is forfeited under the Law or these rules; if the member’s total shareholding is purchased by the co-operative under the Law or these rules; if the member’s total shareholding is sold by the co-operative under any power in the Law or these rules and the purchaser is registered as shareholder in the member’s place.
- (a) if the membership ceases in any circumstances specified in section 117 of the Law;
- (b) if the member’s total shareholding is transferred to another person and the transferee is registered as the holder of the shareholding;
- (c) if the member’s total shareholding is forfeited under the Law or these rules;
- (d) if the member’s total shareholding is purchased by the co-operative under the Law or these rules;
- (e) if the member’s total shareholding is sold by the co-operative under any power in the Law or these rules and the purchaser is registered as shareholder in the member’s place.