Queensland Consolidated Acts

COOPERATIVES ACT 1997 - SECT 144A

(1) The shares of a cooperative are declared to be applied Corporations legislation matters for the Corporations (Ancillary Provisions) Act 2001, part 3 in relation to the Corporations Act, sections 716(2), 722, 723(2), 724(1)(a) and (2)(a) and 734, subject to the following changes—

(a) the provisions apply as if a cooperative were a company;

(b) a reference in the provisions to ASIC is to be read as a reference to the registrar;

(c) a reference in the provisions to a disclosure document is to be read as a reference to a disclosure statement, of any type, under this Act;

(d) a reference in the provisions to securities is to be read as a reference to shares;

(e) any other changes (within the meaning of the Corporations (Ancillary Provisions) Act 2001, part 3) that are prescribed under a regulation.

(2) However, subsection (1) applies only if—

(a) the shares are offered to persons who are not shareholders in the cooperative; or

(b) the invitation is made to persons who are not shareholders in the cooperative.

Note—

See note under section 11(1).