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Co-operatives National Regulations
67Disposal of surplus funds during a financial year (CNL ss355–358)
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67 Disposal of surplus funds during a financial year (CNL ss355–358)
67 Disposal of surplus funds during a financial year (CNL ss355–358)
(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.
(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:
(a) charitable purposes; or
(b) supporting any activity approved by the co-operative.