Certain interests need not be declared
223 Certain interests need not be declared
The interest in a contract or proposed contract that a director is required by this Division to declare does not include an interest in —
a contract or proposed contract for a purchase of goods and services by the director from the co‑operative; or
a lease of land to the director by the co‑operative; or
a contract or proposed contract for the sale of commodities or animals by the director to the co‑operative; or
a contract or proposed contract that, under the rules of the co‑operative, may be made between the co‑operative and a member; or
a contract or proposed contract of a class of contracts prescribed by the regulations,
but only if the contract is made in good faith, in the ordinary course of the business of the co‑operative, and on the terms that are usual and proper in similar dealings between the co‑operative and its members.
[Division 6 (s. 224‑229) deleted: No. 7 of 2016 s. 71.]
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