Co-Operatives National Regulation (Queensland)

Directors’ remuneration must comply with the provisions of the Law.

Remuneration for directors is strictly controlled under the Law and requires the approval of the co-operative in general meeting. However, it is possible for a co-operative to specify in its rules that a director will receive particular remuneration if this is appropriate. It may still be necessary to obtain ratification or approval at a general meeting even in respect of specified remuneration under the rules.

An alternate director is treated as a director under the Law, and remuneration of an alternate director is subject to the same restrictions under the Law.