Co-operative Societies Act 1975 (ACT)

No. 13 of 1975

AN ORDINANCE

To amend the Co-operative Societies Ordinance 1939-1974.

I, T H E ADMINISTRATOR of the Government of Australia, acting with the advice of the Executive Council, hereby make the following Ordinance under the Seat of Government (Administration) Act 1910- 1973.

Dated this fifteenth day of May, 1975.

A . R. CUTLER

Administrator.

By His Excellency's Command,

GORDON M. BRYANT

Minister of State for the Capital Territory.

CO-OPERATIVE SOCIETIES ORDINANCE 1975

1. (1) This Ordinance may be cited as the Co-operative Societies

Ordinance 1975.*

(2) The Co-operative Societies Ordinance 1939-1974,f as amended by this Ordinance, may be cited as the Co-operative	Societies	Ordinance
1939-1975.

2. After Part I IIc of the Co-operative Societies Ordinance

1939-1974 the following Part is inserted:—

1974.

"PART I I I D — L O A N S TO ABORIGINALS

" 14K. In this Part, unless the contrary intention appears—

'Commission' means the Aboriginal Loans Commission estab­ lished by the Aboriginal Loans Commission Act 1974;

'Fund' means the Aboriginal Housing and Personal Loans Fund established by the Aboriginal Loans Commission Act

1974.

" 14L. (1) Subject to this Part and notwithstanding anything in the Rules of the society, a registered building society may, with the approval of the Registrar, enter into an agreement with the Commission to act as an agent of the Commission.

• Notified in the Australian Government Gazette on 16 May 1975.

t Ordinance N o . 9, U939, as amended by N o . 1, 1946; N o . 14. 1950; N o . 14, 1954; N o . 10, 1956; No. 18,

1958; Nos . 3 and 7, 1962; N o . 10, 1963; N o . 18, 1966; N o . 6, 1972; Nos. 16 and 29, 1973; and Nos . 35 and 47,

" (2) The Registrar may, on application by a registered building

society, approve the entry by the society into an agreement referred

to in sub-section ( 1 ) .

" ( 3 ) An agreement referred to in sub-section ( 1 ) —

(a)	shall, subject to section 14P, be in accordance with such terms and conditions, and for such period, as the Registrar determines; and
(b)	shall extend only to the building society acting as agent of the Commission in the administration of the Fund.

" 14M. Where a registered building society does not comply with the terms and conditions of the Registrar's approval, the Registrar may forthwith revoke his approval.

" 14N. (1) Where—

(a)	the Registrar refuses to grant an approval under sub­
section 14L ( 2 ) ;

(b) the Registrar revokes an approval under section 14M; or

(c) a building society is dissatisfied with the terms and con­ ditions imposed, or the period determined, by the Registrar in granting an approval under sub-section 14L ( 2 ) ,

the building society may, within a period of 21 days from the date of the refusal, revocation or grant of the approval, as the case requires, or within such further time as the Court, on application made either before or after the expiration of that period, allows, appeal to the Court against the refusal, revocation or grant of the approval.

" (2 ) The Court has jurisdiction to hear and determine an appeal under this section.

" (3) An appeal under this section shall be by way of a re-hearing. " (4) On an appeal under this section, the Court may affirm, vary or revoke the Registrar's decision and may make such other order as to it seems just.

" 14P. An agreement entered into under this Part may—

(a)	provide for the Commission to disburse moneys out of the Fund through the building society; and
(b)	specify the terms and conditions subject to which those moneys may be disbursed in making loans to Aboriginals in accordance with the terms of the Aboriginal Loans Commission Act 1974.

" 14Q. A registered building society shall not—

(a)	enter into an agreement under section 14L without obtaining the Registrar's approval; or
(b)	fail or refuse to comply with the terms and conditions sub­ ject to which the Registrar's approval is given.

Penalty: $100.

" 14R. (1) Notwithstanding the provisions of this Ordinance other than this Part and notwithstanding anything in the Rules of a registered building society to the contrary, a person to whom a loan is made by the Commission through the agency of a registered building society is not, by reason only of the loan being so made—

(a) to be deemed to be a member of the society; or

(b) entitled to become a member of the society.

" (2) For the purpose of any other provision of this Ordinance—

(a)	moneys disbursed through the agency of a registered build­ ing society by the Commission in pursuance of an agreement entered into under section 14L, not being commission payable to the society by virtue of such an agreement, are not funds of the society;
(b)	moneys paid to the Commission through the agency of a registered building society are not funds of the society; and
(c)	moneys so disbursed or paid are not available for any purpose other than—

(i) payment to the Commission;

(ii)   payment to, or at the direction of, a person to whom a loan has been granted by the Commission; and

(iii) payment of commission due to the society.".