160Cancellation of membership prohibited in certain

160 Cancellation of membership prohibited in certain circumstances (1) Unless the National Regulations otherwise provide, the board of a co-operative must not declare the membership of a member to be cancelled under this Part: (a) if the co-operative is insolvent; or (b) if the co-operative is under administration under Part 5.3A of the Corporations Act as applying under this Law; or (c) if a compromise or an arrangement is being administered in relation to the co-operative; or (d) if the co-operative is in the course of being wound up; or (e) if an appointment of a receiver (whether or not a receiver and manager) of any property of the co-operative is in force; or (f) if the co-operative has, for the purpose of being registered as a company under the Corporations Act, filed with the Registrar a copy of the entry made in the minutes of the co-operative. (2) The National Regulations may provide that the board of a co-operative must not declare the membership of a member to be cancelled under this Part in other circumstances that may be prescribed.