Schedule Sch 3 - Co-operatives Regulations 2010 - Model rules of a distributing co‑operative with share capital

Sch 3Model rules of a distributing co‑operative with share capital

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Schedule 3 — Model rules of a distributing co‑operative with share capital

Terms used 122
Rules 122
Powers 123
Name 123
Active membership provisions 124
Qualifications for membership 124
Membership, subscriptions, periodic fees 125
Ceasing membership 126
Expulsion of members 127
Monetary consequences of expulsion 128
Suspension of members 129
Payments upon resignation of member 130
Disputes and mediation 131
Fines payable by members 132
Capital and shares 133
Liability of members to co‑operatives 134
Calls on shares 134
Sale of members’ shares 135
Transfer and transmission of shares 136
Effect of sale, transfer or disposal of shares 138
Forfeiture and cancellations: inactive members 138
Forfeiture of shares 139
Forfeited shares 139
Forfeiture for non‑payment of subscription 140
Death of member 140
Dealings of members with co‑operatives 141
Charges on shares 142
Registration of Official Trustee in Bankruptcy 143
Registration as administrator of estate on incapacity of member 143
Entitlements and liabilities of person registered as trustee, administrator etc. 143
Transfer and transmission of debentures 144
Issue of CCUs 145
Transfer and transmission of CCUs 146
Annual general meetings 146
Special general meetings 146
Notice of general meetings 148
Business of general meetings 148