43Rules may limit powers and set out objects (cf Corporations

43 Rules may limit powers and set out objects (cf Corporations Act s 125) (1) The rules of a co-operative may contain an express restriction on, or a prohibition of, the co-operative's exercise of any of its powers, but the exercise of a power by the co-operative is not invalid merely because it is contrary to an express restriction or prohibition in the (2) The rules of a co-operative may set out the co-operative's objects, but an act of the co-operative is not invalid merely because it is contrary to or beyond any objects in the rules of the co-operative.

Co-operatives (National Uniform Legislation) Act 2015 52 Division 3 Persons having dealings with co-operatives