Co-operatives National Law (NSW)

The Corporations application legislation of this jurisdiction provides for the application of provisions of the Corporations Act and Part 3 of the ASIC Act as laws of this jurisdiction in respect of any matter declared by a law of this jurisdiction (whether with or without modification) to be an applied Corporations legislation matter for the purposes of the Corporations application legislation in relation to those Commonwealth provisions. The Corporations application legislation ensures that a declaration made for the purposes of that legislation only operates so as to apply a provision of the Corporations legislation to a matter as a law of this jurisdiction if that provision does not already apply to the matter as a law of the Commonwealth. If a provision referred to in a declaration already applies as a law of the Commonwealth, nothing in the declaration will affect its continued operation as a law of the Commonwealth.

The following Table indicates the location and subject matter of declarations made under other provisions of this Law.

Table

Applied provisions of Corporations Act

Location of applied provisions in Corporations Act

Matter to which applied provision applies

Provision of this Law that makes the declaration

Sections 111AA–111AX

Part 1.2A (Disclosing entities)

Debentures (and CCUs) of a co-operative

Section 337

Sections 283AA–283HB

Chapter 2L (Debentures)

Debentures (and CCUs) of a co-operative

Section 337

Section 295A

Part 2M.3, Division 1 (Annual financial reports and directors’ reports)

A co-operative with quoted securities

Section 277

Sections 299A–300A

Part 2M.3, Division 1 (Annual financial reports and directors’ reports)

A co-operative with quoted securities

Section 281

Sections 302–306

Part 2M.3, Division 2 (Half-year financial report and directors’ report)

A co-operative that is a disclosing entity

Section 282

Sections 307–313

Part 2M.3, Division 3 (Audit and auditor’s report)

A co-operative

Section 283

Section 315 (1)

Part 2M.3, Division 4 (Annual financial reporting to members)

A co-operative that is a disclosing entity

Section 285

Section 318

Part 2M.3, Division 4 (Annual financial reporting to members)

A co-operative

Section 288

Sections 323–323C

Part 2M.3, Division 6 (Special provisions about consolidated financial statements)

A co-operative

Section 294

Sections 324AA–324DD (except section 324BD)

Part 2M.4 (Appointment and removal of auditors), Divisions 1–5

A co-operative

Section 297

Sections 416–434G

Part 5.2 (Receivers, and other controllers, of property of corporations)

A co-operative

Section 393

Sections 435A–451D (except section 446B)

Part 5.3A (Administration of a company’s affairs with a view to executing a deed of company arrangement)

A co-operative

Section 382

Sections 459A–581

Part 5.4 (Winding up in insolvency)

Part 5.4A (Winding up by the court on other grounds)

Part 5.4B (Winding up in insolvency or by the court)

Part 5.5 (Voluntary winding up)

Part 5.6 (Winding up generally)

The winding up of a co-operative

Section 444

Sections 465–489E

Part 5.4B (Winding up in insolvency or by the court)

The winding up or deregistration of participating co-operatives

Section 472

Sections 513–581

Part 5.6 (Winding up generally)

The winding up or deregistration of participating co-operatives

Section 472

Section 536

Part 5.6, Division 3 (Liquidators)

A person appointed to administer a compromise or arrangement

Section 420

Section 563AAA

Part 5.6, Division 6 (Proof and ranking of claims)

Debentures (and CCUs) issued by a co-operative to any of its members or employees

Section 342

Sections 588C–588Z

Part 5.7B (Recovering property or compensation for the benefit of creditors of insolvent company)

A co-operative

Section 451

Sections 589–596

Part 5.8 (Offences)

A co-operative

Section 201

Sections 596AA–596AI

Part 5.8A (Employee entitlements)

A co-operative

Section 202

Sections 596A–597B

Part 5.9, Division 1 (Examining a person about a corporation)

A co-operative

Section 489

Sections 600A–600H

Part 5.9, Division 3 (Provisions applying to various kinds of external administration)

A co-operative

Section 382

Sections 601AA–601AH

Part 5A.1 (Deregistration)

The deregistration of a co-operative and a deregistered co-operative

Section 453

Sections 674–678

Chapter 6CA (Continuous disclosure)

Debentures (and CCUs) of a co-operative

Section 337

Sections 700–742

Chapter 6D (Fundraising)

Debentures (and CCUs) of a co-operative

Section 337

Sections 1040A–1045A

Part 7.10 (Market misconduct and other prohibited conduct relating to financial products and financial services)

Debentures (and CCUs) of a co-operative

Section 337

Sections 1339–1343A

Part 9.7 (Unclaimed property)

Anything paid or transferred to the Registrar under section 436 (2)

Section 436 (3)