Co-operatives Act 2009

Before a proposed co‑operative, other than an existing corporation, can be registered, a formation meeting must be held in accordance with this section.

At the formation meeting —

a person must act as chairperson, and a person must be specified to act as secretary; and

a disclosure statement approved under section 16 must be presented to the meeting in the case of —

a proposed distributing co‑operative; or

a proposed non‑distributing co‑operative that is the subject of a direction under section 16(2B);

the proposed rules of the co‑operative approved under section 17 in respect of the proposed co‑operative, must be agreed to by two‑thirds of the eligible members attending the meeting; and

the eligible members attending the meeting must sign the application for membership; and

the eligible members attending the meeting must elect the first directors of the proposed co‑operative in accordance with the proposed rules; and

the eligible members attending the meeting must authorise a person —

to apply to the Registrar for registration of the proposed co‑operative; and

to do anything necessary to have the proposed co‑operative registered.

The formation meeting must be held by —

for a co‑operative group, not less than 2 suitably qualified co‑operatives; and

for any other co‑operative, not less than 5 persons, or if a lesser number than 5 is approved by the Registrar, not less than the approved number of persons, suitably qualified to be members of the proposed co‑operative.

For the purposes of subsection (3), a person or a co‑operative is suitably qualified to be a member if —

there are reasonable grounds to believe the person or co‑operative will be an active member of the proposed co‑operative; and

for an individual, the person has attained the age of 18; and

the person satisfies any other requirements for membership set out in the proposed rules.

Each co‑operative forming a proposed co‑operative group may be represented at the formation meeting by one person.