South Australian Consolidated Acts

CO-OPERATIVES ACT 1997 - SECT 269

269—Application of surplus to other persons

        (1)         If authorised by its rules, any part of the surplus arising in any year from the business of a trading co-operative may be credited to any person who is not a member, but is qualified to be a member, by way of rebate in proportion to the business done by him or her with the co-operative, if—

            (a)         the person was a member at the time the business was done and the membership has lapsed; or

            (b)         the person has applied for membership after the business was done.

        (2)         Nothing in this section precludes the payment of a bonus to an employee in accordance with the terms of his or her employment.