Management contracts
219 Management contracts
In this section —
management contract means a contract or other arrangement under which —
a person who is not an officer of the co‑operative agrees to perform the whole, or a substantial part, of the functions of the co‑operative, whether under the control of the co‑operative or not; or
a co‑operative agrees to perform the whole or a substantial part of its functions —
in a particular way; or
in accordance with the directions of any person; or
subject to specified restrictions or conditions.
A co‑operative must not enter into a management contract unless that contract has first been approved by special resolution.
A management contract entered into in contravention of subsection (2) is void.
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