Co-operatives National Law (Tasmania) Local Regulations 2015 (TAS)

Co-operatives National Law (Tasmania) Local Regulations 2015

I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under section 15 of the Co-operatives National Law (Tasmania) Act 2015 .4 August 2015

C. WARNER

Governor

By His Excellency’s Command,

MICHAEL DARREL JOSEPH FERGUSON

Acting for and on Behalf of the Minister for Justice

PART 1Preliminary1Short titleThese regulations may be cited as the Co-operatives National Law (Tasmania) Local Regulations 2015 . 2CommencementThese regulations take effect on 1 September 2015. 3Interpretation (1)  In these regulations – Act means the Co-operatives National Law (Tasmania) Act 2015 . (2)  Terms used in these regulations and the Co-operatives National Law (Tasmania) have the same meaning in these regulations as they have in the Co-operatives National Law (Tasmania). PART 2Prescription of Matters for the Co-operatives National Law (Tasmania) and Co-operatives National Regulations (Tasmania)4Unsuitable names for co-operativesFor the purposes of section 220(5) of the Co-operatives National Law (Tasmania) and regulation 3.7 of the Co-operatives National Regulations (Tasmania), a name is otherwise unsuitable if the Registrar is satisfied that it is likely to mislead. 5Exemption from restriction on corporations registering name including word co-operative or similar wordsFor the purposes of section 220(7) of the Co-operatives National Law (Tasmania), a corporation is exempt from section 220(4) of the Co-operatives National Law (Tasmania) if the corporation is – (a) a company that is permitted to use the expression building society, credit union or credit society under section 66 of the Banking Act 1959 of the Commonwealth; or (b) a company that is a friendly society for the purposes of the Life Insurance Act 1995 of the Commonwealth. 6Exemption from restriction on use of word co-operative or similar wordsFor the purposes of section 225(2) of the Co-operatives National Law (Tasmania), a person is exempt from section 225(1) of the Co-operatives National Law (Tasmania) if the person is – (a) a company that is permitted to use the expression building society, credit union or credit society under section 66 of the Banking Act 1959 of the Commonwealth; or (b) a company that is a friendly society for the purposes of the Life Insurance Act 1995 of the Commonwealth. 7Application for transferFor the purposes of section 403(b) of the Co-operatives National Law (Tasmania), the following are prescribed – (a) the Associations Incorporation Act 1964 ; or (b) the Corporations (Aboriginal and Torres Strait Islander) Act 2006 of the Commonwealth; or (c) any legislation of the Commonwealth that provides for the incorporation of a building society, credit union or friendly society. 8Procedures regarding giving of exemptionsFor the purposes of section 621 of the Co-operatives National Law (Tasmania), an application for an exemption must be made – (a) in writing; and (b) within a reasonable time before the event, or the occurrence of the matter, for which the exemption is sought. PART 3Fees9Prescribed feesThe fees specified in Schedule 1 are prescribed as the fees that are payable under the Co-operatives National Law (Tasmania) for the matters to which they respectively relate. PART 4Miscellaneous10Co-operatives may continue to operate under old rules (1)  Subject to subregulation (2) , a co-operative may continue to operate under the rules applying to the co-operative that were in force immediately before the commencement of the Act (the old rules). (2)  While a co-operative is operating under the old rules – (a) if there is any inconsistency between a provision of the old rules and a provision of the Act, the Co-operatives National Law (Tasmania), the Co-operatives National Regulations (Tasmania) or these regulations, the provision of the Act, the Co-operatives National Law (Tasmania), the Co-operatives National Regulations (Tasmania) or these regulations, respectively, prevails; and (b) if there is any reference in the old rules to a requirement contained in the Cooperatives Act 1999 or the Cooperatives Regulations 2010 (the former requirement), that reference is to be read as a reference to the requirement, contained in the Act, the Co-operatives National Law (Tasmania), the Co-operatives National Regulations (Tasmania), or these regulations, respectively, that substantially corresponds to the former requirement; and (c) any reference in the old rules to – (i) a co-operative being a trading co-operative, is to be read as a reference to the co-operative being a distributing co-operative; and (ii) a co-operative being a non-trading co-operative, is to be read as a reference to the co-operative being a non-distributing co-operative. Schedule 1Prescribed Fees

Regulation 9

Column 1	Column 2	Column 3	Column 4
Item	Provision of Co-operatives National Law (Tasmania)	Description	Fee Units
1.	Section 23(1)(a)	Submission of draft rules to the Registrar before the formation meeting	46
2.	Section 23(1)(b)	Submission of a draft formation disclosure statement to the Registrar	165
3.	Section 26(1)(b)(ii)	Application for registration of a proposed co-operative	18
4.	Section 31(b)(ii)	Application for registration of existing corporation	18
5.	Section 37(b)(ii)	Issue of duplicate certificate of registration	18
6.	Section 60	Application to the Registrar for an amendment of rules requiring prior approval of the Registrar	46
7.	Section 63(2)	Application for registration of an amendment of the rules	18
8.	Section 63(4)	Application for certificate of rule change	18
9.	Section 71	Application for exemption from disclosure statement requirements for distributing co-operatives	46
10.	Section 82(3)(a)	Application to register a disclosure statement to accompany a proposal to require a member to take up or subscribe for additional shares	165
11.	Section 119(4)	Application to extend the period during which a co-operative can carry on business with fewer than the minimum number of members	165
12.	Section 152(3)	Application to determine a member’s eligibility to vote	165
13.	Section 171	Application for exemption from provisions relating to the entitlements of former members of distributing co-operatives	165
14.	Section 213(1)(d)	Application to keep the co-operative’s register at a location approved by the Registrar	46
15.	Section 221(1)	Application to omit the word Limited or the abbreviation Ltd from the name of a co-operative	92
16.	Section 222(e)	Application to use an abbreviation or elaboration of the name of a co-operative	46
17.	Section 224	Application to change the name of a co-operative	165
18.	Section 233(2)	Application for a review by the Registrar of a member’s right to vote	165
19.	Section 243(2)(c)(ii)	Filing fee for registration of each special resolution	46
20.	Section 244(3)	Application for a certificate of registration of a special resolution	18
21.	Section 248(3)	Application for the approval of a disclosure statement for the purpose of a special postal ballot	165
22.	Section 289	Lodgement of annual report by large co-operative	165
23.	Section 293	Lodgement of annual return by small co-operative	46
24.	Section 316	Application for an exemption relating to an individual co-operative	165
25.	Section 317	Application for exemption of certain persons (in respect of a class of co-operatives) from all or specified requirements of target provisions	165
26.	Section 319	Application for an exemption relating to non-auditors and former members of audit firms or companies	165
27.	Section 320(1)	Application for exemption of certain persons (in respect of a class of audit firms or audit companies) from all or specified requirements of target provisions	165
28.	Section 322	Application for an exemption from the Co-operatives National Regulations (Tasmania)	165
29.	Section 337	Lodgement of disclosure documents for issue of debentures required for the purposes of the Corporations application legislation applied by section 337 of the Co-operatives National Law (Tasmania)	1300
30.	Section 337	Application for exemption from or modification of disclosure provisions under Chapter 6D of the Corporations Act 2001 as applied by section 337 of the Co-operatives National Law (Tasmania)	680
31.	Section 338(3)	Application for the approval of a disclosure statement concerning the issue of debentures	165
32.	Section 343(3)(a)	Application to the Registrar for approval of a disclosure statement concerning a compulsory loan by members to a co-operative	165
33.	Section 343(10)	Application to the Registrar for an exemption from section 343 of the Co-operatives National Law (Tasmania)	165
34.	Section 350	Application to the Registrar for approval of the issue of Co-operative Capital Units	165
35.	Section 359(3)	Application to the Registrar for an exemption from provisions concerning the acquisition and disposal of assets of the co-operative	165
36.	Section 363(2)	Application for an exemption from provisions concerning the maximum permissible level of share interest	174
37.	Section 372	Application for an exemption from the operation of Division 1 of Part 3.5 of the Co-operatives National Law (Tasmania)	165
38.	Section 374(1)(b)	Application for an approval of share offers to which Division 2 of Part 3.5 of the Co-operatives National Law (Tasmania) applies	1300
39.	Section 376(5)	Application to the Registrar to extend the time permitted for the Board to consider a share offer of the kind specified in section 373(1) of the Co-operatives National Law (Tasmania)	165
40.	Section 380	Application for an exemption from the operation of Division 2 of Part 3.5 of the Co-operatives National Law (Tasmania)	680
41.	Section 396(2)	Application to the Registrar for consent to the procedure for a proposed merger or transfer of engagements	46
42.	Section 397(2)	Application for approval of a disclosure statement concerning a proposed merger or transfer of engagements	165
43.	Section 397(4)	Application for an exemption from the requirement for a disclosure statement concerning a proposed merger or transfer of engagements	165
44.	Section 398(1)	Application for the approval of a merger or transfer of engagements	46
45.	Section 404(4)	Application for an exemption from the requirements that must be met before an application can be made for a transfer of incorporation	165
46.	Section 416(1)(a)	Application to the Registrar for permission for a shorter notice period to the Registrar of the hearing of an application for a binding compromise or arrangement	18
47.	Section 418(1)(f)	Application for an exemption from the prohibition on an officer or promoter of a co-operative or related corporation being appointed to administer a compromise or arrangement	165
48.	Section 424(1)(b)	Application to the Registrar for a statement that the Registrar has no objection to a compromise or arrangement	165
49.	Section 425(4)	Filing with the Registrar of an office copy of an order made by the Supreme Court under section 425 of the Co-operatives National Law (Tasmania)	18
50.	Section 428(1)	Application for the approval of an explanatory statement	680
51.	Section 445(3)	Application for an exemption from compliance with the restrictions placed on voluntary winding-up	165
52.	Section 453	Application to the Registrar to exercise powers under Corporations application legislation relating to deregistered co-operatives as applied under section 453 of the Co-operatives National Law (Tasmania)	165
53.	Section 476(2)(a)	Application to the Registrar for consent to a proposed procedure for approving a merger, or transfer of engagements, involving a participating co-operative	46
54.	Section 477(2)	Application for approval of a disclosure statement concerning a merger, or transfer of engagements, involving a participating co-operative	165
55.	Section 477(4)	Application for an exemption from the requirement for a disclosure statement for a merger, or transfer of engagements, involving a participating co-operative	165
56.	Section 478(1)	Application for approval of a merger, or transfer of engagements, involving a participating co-operative	165
57.	Section 531(1)(a)	Application to the Registrar to call a special meeting	165
58.	Section 531(1)(b)	Application to the Registrar to hold, or appoint an inspector to hold, an inquiry	310
59.	Section 588	Application to the Registrar for certificate evidence	46
60.	Section 601(1)(a)	Inspection of register of co-operatives	18
61.	Section 601(1)(b)	Inspection of document kept by Registrar	18
62.	Section 601(1)(c)	Obtaining extract from register of co-operatives	18
63.	Section 601(1)(d)	Obtaining certified copy of document kept by Registrar	18
64.	Section 601(1)(e)	Obtaining copy of document kept by Registrar	18
65.	Section 609(1)	Application to the Registrar to grant an extension or shortening of time limits	46
66.	Section 611(2)(c)(iii)	Application for permission from the Registrar to allow a co-operative to effect service to a member by publishing a notice in a relevant newspaper	46

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 12 August 2015

These regulations are administered in the Department of Justice.

EXPLANATORY NOTE

(This note is not part of the regulation) These regulations –

(a) prescribe certain matters for the purposes of the Co-operatives National Law (Tasmania) and the Co-operatives National Regulations (Tasmania); and (b) prescribe certain fees payable under the Co-operatives National Law (Tasmania); and (c) enable any existing co-operative to continue to operate under the rules that applied to the co-operative before the commencement of the Co-operatives National Law (Tasmania) Act 2015 .