Co-operatives National Law (Queensland)

The financial year of a co-operative ends on the day in each year that is provided for by the rules of the co-operative.

The first financial year of a co-operative may extend from the date of its registration to a date not more than 18 months after its registration.

On an amendment of the rules of a co-operative amending its financial year, the amendment may provide either—

that the current financial year (as at the date of the amendment) is to be extended for not more than 6 months; or

that the next financial year is to be a period of more than one year but not more than 18 months.

Without limitation, the National Regulations may make provision for or with respect to requiring the adoption by a co-operative of the same financial year for each entity that the co-operative controls.