Resolution by circulation of document – fewer than 50 members
246 Resolution by circulation of document – fewer than 50 members
(1) If all the members of a co-operative have signed a document that sets out the terms of a resolution and contains a statement that they are in favour of the resolution, the resolution is taken to have been passed at a general meeting of the co-operative.
The meeting is taken to have been held:
(a) if all the members signed the document on the one day – on the day the document was signed, at the time the document was signed by the last member to sign; or
(b) if the members signed the document on different days – on the day, and at the time, the document was signed by the last member to sign.
(3) The document need not exist as a single document, but may exist in the form of 2 or more documents in identical terms.
(4) The document is taken to constitute a minute of the general meeting.
(5) Anything attached to the document and signed by the members signing the document is taken to have been laid before the co‑operative at the general meeting.
(6) The document is signed by all members of a co-operative only if the document is signed by each person who was a member of the co-operative at the time the document was signed by the last member to sign.
(7) Nothing in this section affects or limits any rule of law about the effectiveness of the assent of members of a co-operative given to a document, or to an act, matter or thing, otherwise than at a general meeting of the co-operative.
This Act’s bill:Explanatory statement
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