76
CurrentShares – general
Chapter 2Formation, powers and constitution of co-operatives
Part 2.4Shares
Division 4Issue of shares
76 Shares – general
(1)
The share capital of a co-operative varies in amount according to the nominal value of shares from time to time subscribed.
(2)
Shares are to be of a fixed amount that must be specified in the rules of the co-operative.
(3)
A co-operative may have more than one class of shares if the shareholding and the rights of shareholders comply with the co‑operative principles.
(4)
Subject to this Part and Part 2.5, shares must not be issued to a non‑member.
This Act’s bill:Explanatory statement
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