Additional powers of Registrar
390 Additional powers of Registrar
(1) 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) 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
(b) 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).
(3) 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.
(4) A rule stated by the Registrar under this section to be a rule of a co‑operative:
(a) must not to be amended other than in the way set out in this section; and
(b) 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
(c) has the same evidentiary value as is by this Law accorded to the rules of the co-operative and to copies of them.
This Act’s bill:Explanatory statement
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