Co-operatives National Law (NSW)

The rules of a co-operative may contain an express restriction on, or a prohibition of, the co-operative’s exercise of any of its powers, but the exercise of a power by the co-operative is not invalid merely because it is contrary to an express restriction or prohibition in the rules of the co-operative.

The rules of a co-operative may set out the co-operative’s objects, but an act of the co-operative is not invalid merely because it is contrary to or beyond any objects in the rules of the co-operative.