Rule of certain co-operatives formed to carry on club may restrict voting rights
32 Rule of certain co-operatives formed to carry on club may restrict voting rights
Subject to subsection (2), the rules of a co‑operative may provide for different classes of membership and restrict the voting rights attaching to membership of those different classes, but only if—
the co-operative has as a primary activity the operation, maintenance and carrying on of a club; and
the membership of the class or classes entitled to full voting rights constitutes at least 40% of the total membership of the co‑operative; and
the NSW Registrar approves the provisions concerned.
Note to s. 32(1) amended by No. 70/2013 s. 3(Sch. 1 item 8).
Note
Under clause 5(3) of Schedule 1 to the Co-operatives (Adoption of National Law) Act 2012 of New South Wales, an approval that was given under section 177 of the Co‑operatives Act 1992 of New South Wales by the Co‑operatives Council constituted under that Act and that was effective immediately before the commencement of that clause has effect as if given by the NSW Registrar.
Subsection (1) applies only to a co-operative registered in NSW and operating in Victoria as a participating co-operative under Part 5 of the Co‑operatives National Law (Victoria) that—
holds a club licence under the Liquor Act 2007 of New South Wales, whether the co‑operative was registered under—
the Co-operatives Act 1992 of New South Wales; or
the Co-operatives National Law (NSW); or
S. 32(2)(b) amended by No. 38/2017 s. 77.
was registered under the Co-operatives Act 1992 of New South Wales before 17 December 1997 (being the date of assent to the Statute Law (Miscellaneous Provisions) Act (No 2) 1997 of New South Wales).
In this section—
Co-operatives National Law (NSW) means the Co-operatives National Law as applied as a law of New South Wales by section 4 of the Co-operatives (Adoption of National Law) Act 2012 of New South Wales;
NSW Registrar means the Registrar within the meaning of the Co-operatives National Law (NSW).
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