Management contracts
207 Management contracts
A co-operative must not enter into a management contract unless the contract has first been approved by special resolution.
A management contract entered into in contravention of subsection (1) is void.
In this section—
management contract means a contract or other arrangement under which—
a person who is not an officer of the co-operative agrees to perform the whole, or a substantial part, of the functions of the co-operative, whether under the control of the co-operative or not; or
a co-operative agrees to perform the whole or a substantial part of its functions—
in a particular way; or
in accordance with the directions of any person; or
subject to stated restrictions or conditions.
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