Co-operatives Act 2009

If the Registrar appoints directors of a co‑operative under section 326, the Registrar may, by written notice given to the co‑operative, specify —

a time during which this section is to apply in relation to the co‑operative; and

the terms on which all or any of the directors hold office; and

the rules that are to be the co‑operative’s rules.

While this section applies to a co‑operative, the Registrar may —

remove and appoint directors; and

vary, revoke or state new terms in place of all or any of the terms specified under subsection (1); and

amend all or any of the rules specified under subsection (1).

The Registrar may, by written notice given to the co‑operative, extend the time for which this section is to apply to a co‑operative.

A rule specified by the Registrar under this section to be a rule of a co‑operative —

cannot be altered except in the way set out in this section; and

if it is inconsistent with another rule of the co‑operative, prevails over the other rule, and the other rule is to the extent of the inconsistency inoperative; and

has the same evidentiary value as is by this Act accorded to the co‑operative’s rules and to copies of them.