Preview
Archived Posts Lists

Australian Regulatory Compliance Review
Australian Technology and IP Business
Credit Union and Mutual Law
National Consumer Credit Reform
Personal Property Securities Australia
Longview Business Insights
Australian Private Health Insurers
Wills, Trusts, Super
Mutuals Resource Centre

Resources

Commonwealth legislation
Corporate Governance
Not-for-Profit links
Regulator Links

July 19, 2012

National co-operative laws update

The New South Wales Parliament has passed the Co-operatives (Adoption of National Law) Act 2012 which includes the Co-operatives National Law which is a template for uniform national laws for co-operatives.

Once passed in all states, larger co-operatives wishing to carry on business across a state or territory border will be able to do so without registering in each jurisdiction. Smaller co-operatives will benefit from the introduction of simplified financial reporting to members and removing the obligation to lodge publicly available accounts.

The Co-operatives National Law will implement modern principles of corporate governance and accountability similar to requirements for other corporate entities.

Now that the law is passed in NSW, other States and Territories must pass the same or consistent law in their own jurisdictions within 12 months.

Print This Post Print This Post

Posted 19th July 2012 by David Jacobson in Legal, Mutuals