Content of rules
98 Content of rules
The rules of a co‑operative must state or otherwise make provision for the matters specified in Schedule 1.
The rules must be divided into paragraphs numbered consecutively.
The rules may state the objects of the co‑operative.
The rules may adopt by reference all or any of the provisions of the model rules prescribed under section 101 as in force at a particular time.
The rules may provide for the co‑operative to impose a fine, payable to the co‑operative, on a member for an infringement of the rules.
If the rules provide for the imposition of a fine, the rules must specify the maximum fine that may be imposed on a member.
The maximum fine fixed by the rules cannot be more than an amount prescribed by the regulations as the maximum fine.
The rules may contain other provisions not inconsistent with this Act.
[Section 98 amended: No. 7 of 2016 s. 29.]
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