Co-operatives National Law (NSW)

If the Registrar appoints directors of a co-operative under section 387, the Registrar may, by written notice given to the co-operative, state—

a time during which this section is to apply to the co-operative; and

the terms on which all or any of the directors hold office; and

the rules that are to be the rules of the co-operative.

While this section applies to a co-operative, the Registrar may—

remove and appoint directors; and

vary, revoke or state new terms in place of all or any of the terms stated under subsection (1); and

amend all or any of the rules stated under subsection (1).

The Registrar may, by written notice given to the co-operative, extend the time for which this section is to apply to a co-operative.

A rule stated by the Registrar under this section to be a rule of a co-operative—

must not to be amended other than in the way set out in this section; and

if it is inconsistent with another rule of the co-operative—prevails over the other rule (and the other rule is inoperative to the extent of the inconsistency); and

has the same evidentiary value as is by this Law accorded to the rules of the co-operative and to copies of them.