54This Division replaces other rights and liabilities

54 This Division replaces other rights and liabilities This Division replaces any rights or liabilities anyone would otherwise have in relation to the pre-registration contract. Part 2.3 Rules Division 1 Rules of a co-operative 55 Effect of rules (1) The rules of a co-operative have the effect of a contract under seal: (a) between the co-operative and each member; and

Co-operatives (National Uniform Legislation) Act 2015 57 (b) between the co-operative and each director, the chief executive officer and the secretary of the co-operative; and (c) between a member and each other member. (2) Under the contract, each of those persons agrees to observe and perform the provisions of the rules as in force for the time being so far as those provisions apply to the person.