Western Australian Consolidated Acts Western Australian Consolidated Acts (1) In this
section —
surplus property means property of the
co-operative that remains after satisfaction of the debts and liabilities of
the co-operative and the costs, charges and expenses of the winding-up.
(2) On a winding-up of
a non-distributing co-operative, the surplus property of the co-operative must
be distributed as required by the rules of the co-operative.
(3) The rules of a
non-distributing co-operative must make provision for the way in which the
surplus property of the co-operative is to be distributed in a winding-up.