70
In forceDisclosure to intending shareholders in distributing co-operative
Chapter 2Formation, powers and constitution of co-operatives
Part 2.4Shares
Division 2Disclosure requirements for distributing co-operatives
70 Disclosure to intending shareholders in distributing co-operative
(1)
The board of a distributing co-operative must give a person who intends to acquire shares in the co-operative and is not already a shareholder in the co-operative—
(a)
a current disclosure statement; and
(b)
any other information the Registrar directs.
(2)
The disclosure statement and any other information required under subsection (1) and Part 2.5 must be given before the person becomes bound to acquire the shares.
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