356Application for charitable purposes or approved activities

356 Application for charitable purposes or approved activities (1) A co-operative may apply a part of the surplus arising in a year from the business of the co-operative for any charitable purpose. (2) A distributing co-operative may apply a part of the surplus arising in a year from the business of the co-operative for supporting an activity approved by the co-operative. (3) The rules of a co-operative must limit the amount that may be applied under subsection (1) or (2) to a stated proportion of the surplus.

Co-operatives (National Uniform Legislation) Act 2015 226