6Register of CCUs

6 Register of CCUs

6 Register of CCUs

The register of CCUs issued by a co-operative must contain the following particulars:

(a) the date of the resolution approving the terms of issue of each CCU;

(b) the name and address of the holder of each CCU;

(c) the name or code that identifies each CCU or, if a CCU is part of a series, the name or code that identifies the series;

(d) the terms of issue of each CCU, including but not limited to:

(i) the face value (if any) of the CCU;

(ii) the issue value of the CCU;

(iii) details of entitlement to repayment of capital in relation to the CCU;

(iv) details of entitlement to interest on capital (whether cumulative or non-cumulative interest);

(v) details of entitlement (if any) to participate in surplus assets and profits on a winding up of the co-operative;

(vi) details of how capital and interest on capital are to rank on a winding up of the co-operative;

(vii) the date and manner of redemption, including the redemption value (if known);

(e) if a CCU is transferred—the name and address of the transferee;

(f) whether there is a limit on the total holdings of CCUs that may be acquired by persons who are not members of the co-operative and, if there is a limit, what the limit is.