207Management contracts

207 Management contracts (1) A co-operative must not enter into a management contract unless the contract has first been approved by special resolution. (2) A management contract entered into in contravention of subsection (1) is void. management contract means a contract or other arrangement under which: (a) a person who is not an officer of the co-operative agrees to perform the whole, or a substantial part, of the functions of the co-operative, whether under the control of the co-operative or not; or (b) a co-operative agrees to perform the whole or a substantial part of its functions: (i) in a particular way; or (ii) in accordance with the directions of any person; or (iii) subject to stated restrictions or conditions. Division 5 Declaration of interests