Western Australian Consolidated Acts

CO-OPERATIVE AND PROVIDENT SOCIETIES ACT 1903 - SECT 2A

2A .         Registered societies excluded from Corporations legislation

        (1)         The following matters are declared to be excluded matters for the purposes of section 5F of the Corporations Act 2001 of the Commonwealth in relation to the whole of the Corporations legislation to which Part 1.1A of that Act applies, other than the provisions specified in subsection (2) —

            (a)         a registered society;

            (b)         any act or omission of any person, body or other entity in relation to a registered society.

        (2)         The provisions referred to in subsection (1) are —

            (a)         provisions that relate to any matter that the regulations provide is not to be excluded from the operation of the Corporations legislation;

            (b)         provisions that relate to the role of a registered society in the formation of a company;

            (c)         provisions that relate to substantial holdings, by or involving a registered society, in a company;

            (d)         provisions that confer or impose functions on a registered society as a member, or former member, of a corporation;

            (e)         provisions that relate to dealings by a registered society in securities of a body corporate, other than securities of the registered society itself;

            (f)         provisions that confer or impose functions on a registered society in its dealings with a corporation, not being dealings in securities of the registered society;

            (g)         provisions that relate to securities of a registered society, other than shares in, debentures of or deposits with a registered society;

            (h)         provisions relating to the futures industry;

                  (i)         provisions relating to participants in the securities industry;

            (j)         provisions relating to the conduct of securities business;

            (k)         provisions relating to dealers’ accounts and audit;

            (l)         provisions relating to money and scrip of dealers’ clients; or

            (m)         provisions relating to registers of interests in securities.

        (3)         The provisions specified in subsection (2) only apply to a registered society to the extent to which a registered society may engage in the activities covered by those provisions.

        [Section 2A inserted by No. 10 of 2001 s. 48.]

Registration of societies