Co-operatives Act 2009

Subject to subsection (2), a co‑operative is declared to be an applied Corporations legislation matter for the purposes of the Corporations (Ancillary Provisions) Act 2001 Part 3 in relation to the provisions of the Corporations Act Part 5.7B, subject to the following modifications —

a reference in the provisions to a provision of the Corporations Act sections 286 to 290 is to be read as a reference to the appropriate provision of Part 10A Division 2 of this Act;

section 588G is to be read as if item 2 of the table to section 588G(1A) were deleted;

section 588G is to be read as if item 3 of the table to section 588G(1A) read as follows —

section 588G is to be read as if a reference (however expressed) in item 4 or 5 of the table to section 588G(1A) to redeemable preference shares were a reference to CCUs;

a reference (however expressed) in section 588V or 588W to a corporation that is the holding company of a company is to be read as if —

the reference to a corporation were a reference to a co‑operative; and

the reference to “the holding company” were a reference to that co‑operative; and

the reference to “a company” were a reference to a company that is a subsidiary of that co‑operative (and accordingly that reference to a company is not to be read as a reference to a co‑operative);

a reference in section 588Z(b) to 23 June 1993 is to be read as a reference to 1 September 2010;

any other modifications, within the meaning of the Corporations (Ancillary Provisions) Act 2001 Part 3, that are prescribed by the regulations.

The Corporations Act section 588G(2) as applying under this section is a civil penalty provision under this Act and is not a civil penalty provision under that Act.