s 140
In forceShares — general
Part 7Shares
Division 3Issues of shares
140 Shares — general
(1)
The share capital of a co‑operative varies in amount according to the nominal value of shares from time to time subscribed.
(2)
Shares are to be of a fixed amount which is to be specified in the rules of the co‑operative.
(3)
A co‑operative may have more than one class of shares provided the shareholding and the rights of shareholders comply with the co‑operative principles.
(4)
Subject to this Part and Part 4, shares must not be issued to a non‑member.
[141. Deleted: No. 7 of 2016 s. 40.]
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