Co-operatives National Law (NSW)

An administrator holds office until the administrator’s appointment is revoked.

The Registrar may, by written notice, revoke the appointment of an administrator.

When a liquidator of a co-operative is appointed, the appointment of an administrator of the co-operative is automatically revoked.

Immediately on the revocation of an administrator’s appointment, the administrator must prepare and give to the Registrar a report showing how the administration was carried out, and for that purpose an administrator has access to the co-operative’s books.

On giving the report and accounting fully for the administration of the co-operative to the satisfaction of the Registrar, the administrator is released from any further duty to account for the administration of the co-operative other than because of fraud, dishonesty, negligence or wilful failure to comply with this Law.

Before revoking the appointment of an administrator of a co-operative, the Registrar must—

appoint another administrator; or

appoint a liquidator; or

ensure directors of the co-operative have been elected under the rules of the co-operative at a meeting called by the administrator under the rules of the co-operative; or

appoint directors of the co-operative.

Directors elected or appointed under subsection (6)—

take office on revocation of the administrator’s appointment; and

in the case of directors appointed under subsection (6)—hold office until the next annual general meeting of the co-operative after the revocation of the administrator’s appointment.

This section has effect subject to section 390.