Co-Operatives National Law (South Australia) Act 2013

This Division applies to the following offers to purchase shares in a co‑operative:

an offer made as part of a proposal for, or that is conditional on, the sale of the business or part of the business, as a going concern, of the co‑operative;

an offer made as part of a proposal for, or that is conditional on, the registration of the co‑operative as a company under the Corporations Act;

an offer made as part of a proposal for, or that is conditional on, the winding up of the co‑operative;

an offer that would result in a contravention of section 363 were the offerer to be registered (immediately after the offer is made) as the holder of the shares that are the subject of the offer;

an offer that would lead to the offerer having a substantial share interest in the co‑operative, or to a substantial change taking place in a substantial share interest the offerer has in the co‑operative, were the offerer to be registered (immediately after the offer is made) as the holder of the shares that are the subject of the offer.

In subsection (1)(e), substantial share interest and substantial change have the same meanings as they have in section 361.