367
CurrentCo-operative to inform Registrar of interest over 20%
Chapter 3Management and operation of co-operatives
Part 3.5Restrictions on acquisition of interests in co-operatives
Division 1Restrictions on share and voting interests
367 Co-operative to inform Registrar of interest over 20%
(1)
A co-operative must inform the Registrar in writing within 14 days after the board becomes aware that—
(a)
a particular person has a relevant interest in shares of the co-operative the nominal value of which is more than 20% of the nominal value of the issued share capital of the co-operative; or
(b)
there has been a change in the number of shares in which a person referred to in paragraph (a) holds a relevant interest.
(2)
The notification must give details of the relevant interest or change concerned.
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