3.19
CurrentDistribution of surplus or reserves to members—limited dividend (section 357 (5))
Chapter 3Management and operation of co-operatives
3.19 Distribution of surplus or reserves to members—limited dividend (section 357 (5))
For the purposes of the definition of limited dividend in section 357 (5) of the Law, the prescribed amount is 10% more than the maximum rate of the nominal value of interest payable on a Commonwealth Bank 5 year term deposit of $100,000 offered during the relevant financial year.
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