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Name: Co-operatives (Adoption of National Law) Act 2012 No 29.
Country: Australia - New South Wales
Subject(s): Cooperatives
Type of legislation: Law, Act
Adopted on: 2012-05-18
Entry into force:
ISN: AUS-2012-L-93160
Link: https://www.ilo.org/dyn/natlex/natlex4.detail?p_isn=93160&p_lang=en
Bibliography: Legislation on-line Legislation on-line NSW Legislation, Australia (consulted on 2013-05-24)
Abstract/Citation: This Act implements the Co-operatives National Law (CNL). The CNL is a template model of legislation drafted to continue the important principles of co-operation developed by the International Co-operative Alliance and to implement modern principles of corporate governance and accountability similar to requirements for other corporate entities. By aligning co-operatives laws on corporate governance and accountability more closely with laws regarding companies, it is expected that co-operatives will be able to compete on a level playing field with these entities.

PART 1 Preliminary
1 Name of Act
2 Commencement
3 Definitions

PART 2 Application of Co-operatives National Law and Co-operatives National Regulations
4 Adoption of Co-operatives National Law and Co-operatives National Regulations
5 Meaning of certain terms in Co-operatives National Law for purposes of this jurisdiction
6 Exclusion of legislation of this jurisdiction

PART 3 Some matters referred to in Co-operatives National Law (NSW)
7 Designated authority, designated instrument and designated tribunal (Co-operatives National Law s 4)
8 Adjustment of date referred to in Corporations Act as applied (Co-operatives National Law ss 201, 444 and 451)
9 Disposal of consideration for shares compulsorily acquired (Co-operatives National Law s 436)
10 Deregistration (Co-operatives National Law s 453-sections 601AD, 601AE and 601AF of Corporations Act as applied)
11 Warrants (Co-operatives National Law ss 483 and 518)
12 Costs of inquiry (Co-operatives National Law s 530)
13 Secrecy (Co-operatives National Law s 537)
14 Pecuniary penalty orders (Co-operatives National Law s 556)
15 Stamp duty (Co-operatives National Law s 620)
16 Registration fees (Co-operatives National Law s 620)

PART 4 Regulations
17 National Regulations
18 Local regulations

PART 5 Miscellaneous
19 Non-application of Co-operatives National Law to co-operative housing societies and other bodies
20 Orders and other instruments published in Gazette
21 Proceedings for offences
22 Proceedings for recovery of fines or penalties under co-operative's rules
23 Particular officials protected from liability
24 Registrar of Co-operatives
25 Repeals

Schedule 1 Savings and transitional provisions
Repealed text(s):
Related text(s):

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