Tasmanian Numbered Acts Tasmanian Numbered Acts99. Effect of rules
(1) The rules of a cooperative have the effect of a contract under seal –
(a) between the cooperative and each member; and
(b) between the cooperative and each director, the principal executive officer and the secretary of the cooperative; and
(c) between a member and each other member.
(2)
Under the contract, each of those persons agrees to observe and perform the
provisions of the rules as in force for the time being so far as those
provisions are applicable to that person.