You can adapt or use these rules if you are a non-distributing co-operative with share capital. Model rules for a distributing co-operative with share capital (DOC)įee: Nil Model rules for non-distributing co-operatives Model rules for a distributing co-operative with share capital (PDF)
They cover membership, fees, voting rights and more. You can adapt or use these rules if you are a distributing co-operative with share capital.
#COOPERATIVE LAW PDF DOWNLOAD#
Download the model rules Model rules for distributing co-operatives You can make changes to your registered rules later, however, getting them right the first time will save you money, time and trouble.
#COOPERATIVE LAW PDF REGISTRATION#
submit the 2 copies with the application for registration of a co-operative form.have the people who acted as chairperson and secretary at the formation meeting sign and certify 2 copies of the rules.When the members accept the approved rules at the formation meeting, you should: If you do, you must redraft and resubmit them to us for approval. You shouldn’t even edit the rules at the formation meeting. If your members reject the approved rules, you need to start the process again-this is why you should get your members’ input when you start drafting them. You need a two-thirds majority to agree to these rules in order to adopt them. At this meeting, the members must vote on whether to adopt the approved rules. Once we approve your rules, you must next hold your formation meeting. When we first approve the rules, they become the approved rules. You can make any necessary changes and resubmit the rules. If we don’t approve your draft rules, we will give the reasons. When the submitted form is completed correctly and all necessary documents have been attached, we will notify you of the next steps in the registration process within 28 days. refuse to approve the rules altogether.approve different rules to those submitted.You will need to fill out an approval form and send it with your draft rules and the fee.ĭownload the application for approval of proposed rules of a co-operative form. Submit them at least 28 days before you plan to hold the formation meeting. We need to approve your draft rules as early as possible to make sure they comply with the law. You must submit the rules to us before you formally adopt them. Once the rules are approved by us, your co-operative can alter the model rules, but as soon as changes are made, the rules will be deemed as the co-operative’s own. We strongly recommend you seek legal advice if you draft your own rules. You will need to complete a few sections about the individual details of your co-operative. If you use the model rules, you may adopt them entirely. will help you comply with all the current regulations.are appropriate to the needs of most co-operatives.The model rules might be a convenient tool for your co-operative. Make sure to read through the model rules before deciding whether to use them. These model rules are based on the model rules under the Co-operatives National Law Act 2020. To help, we have written a standard set of rules that your co-operative can choose to adopt. This means that writing your rules from scratch can be time-consuming and complicated. You’ll need to put a statement of agreement on the membership form, which they will need to sign. You can ask them to agree to the rules as part of agreeing to become a member. Learn more about reporting for co-operatives.Īll members and office holders must agree to follow the rules. If you are a small co-operative and choose not to audit your financial reports, you do not need to include when and how you will audit them in your rules. *Note: Audits are optional for small co-operatives. when and how financial reports are to be audited or reviewed if you are a large co-operative*.
#COOPERATIVE LAW PDF HOW TO#
how to handle your accounts, shares and fundraising.what procedures you use to run a meeting.what a person needs to do to keep active membership.whether you charge fines for breaking the rules.what primary activity or activities the co-operative is for.Talk to your members and get their input before you put the drafted rules to them at the formation meeting. If you need to make any changes, you will have to start over again from the drafting stage, so it’s best to get it right from the start. You should think carefully about your rules right from the drafting stage. They must outline everybody’s rights and responsibilities.īefore you can register a co-operative, you must draft its rules and have them approved by us. The rules form a contract between the co-operative and its members. Your co-operative must have a written set of rules (or a constitution) to govern how it runs. Print Creating the rules for your co-operative