Co-operatives Act 2009

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 current disclosure statement; and

any other information the Registrar directs.

The disclosure statement and any other information required under subsection (1) and Part 4 must be given before the person becomes bound to acquire the shares.

The board of a co‑operative may comply with subsection (1) in relation to a person by giving the person a notice stating any or all of the following —

that the person may request to inspect the statement and information referred to in subsection (1) at an office of the co‑operative nominated by the person;

that the person may request to be sent an electronic copy of the statement and information referred to in subsection (1) by an electronic means nominated by the person;

that the statement and information referred to in subsection (1) are available on a website and specifying the direct address on the website where the documents may be accessed.

If a person who has received notice under this section makes a request referred to in subsection (3)(a) or (b), the co‑operative must comply with that request.