Western Australian Numbered Acts

CO-OPERATIVES ACT 2009 (NO. 24 OF 2009) - SECT 129

129 .         Repayment of deposits, and redemption of debentures and co-operative capital units

        (1)         A deposit, debenture or co-operative capital unit to which an amount payable to a former member is applied under this Division or section 73(2) is to be repaid or redeemed, as the case may be, as soon as repayment or redemption would not, in the opinion of the board, adversely affect the financial position of the co-operative.

        (2)         The deposit, debenture or co-operative capital unit must in any case be repaid or redeemed within 10 years, or within any shorter period that the rules of the co-operative may require, after cancellation of the member’s membership.