Co-operatives National Law (Queensland)

A co-operative has, both within and outside this jurisdiction, the legal capacity of an individual.

Without limiting subsection (1), a co-operative has, both within and outside this jurisdiction, power—

to issue and allot fully or partly paid shares in the co-operative; and

to issue debentures and CCUs of the co-operative; and

to distribute any of the property of the co-operative among the members, in kind or otherwise; and

to give security by charging uncalled capital; and

to grant a security interest in property of the co-operative; and

to procure the co-operative to be registered or recognised as a corporation in any place outside this jurisdiction; and

to do any other act it is authorised to do by any other law (including a law of a place outside this jurisdiction).

The fact that the doing of an act by a co-operative would not be, or is not, in its best interests does not affect its legal capacity to do the act.

To avoid doubt, this section does not—

authorise a co-operative to do an act that is prohibited by a law of this jurisdiction; or

give a co-operative a right that a law of this jurisdiction denies the co-operative.