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Generally, seven principles of co-operation apply to the operation and establishment of co-operatives. These are:
- Voluntary and Open Membership - to all willing to accept the responsibilities of membership.
- Democratic Member Control - Active co-operative members each have one vote.
- Member Economic participation - ensures that the operations of the co-operative are focused on servicing the members' needs. In a trading co-operative, surpluses are normally distributed to members in proportion to business done with the co-operative.
- Autonomy and Independence - Co-operatives are autonomous, self-help organisations controlled by their members.
- Education, Training and Information - Co-operatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their co-operatives.
- Co-operation between Co-operatives - at a local state, national and international level to enhance the co-operative movement.
- Concern for Community - While focusing on member needs, co-operatives work for the sustainable development of their communities through policies accepted by their members.
Interface with Corporations Act
Division 4 provides that a co-operative is excluded from the operation of the Corporations Act except to the extent specified.For example, the fundraising and securities industry provisions of the Corporations Act apply of their own force in respect of any possible managed investments that may be issued by a co-operative. Whereas, shares in, debentures of, or deposits with, a co-operative are regulated under the Act.
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Information on copyright for the Office of Consumer and Business Affairs website is provided on behalf of South Australia Central http://www.sacentral.sa.gov.au/site/page.cfm?u=60
Disclaimer
Information on the disclaimer for the Office of Consumer and Business Affairs website is provided on behalf of South Australia Central http://www.sacentral.sa.gov.au/site/page.cfm?u=61
Privacy
The South Australian Office of Consumer and Business Affairs (OCBA) is committed to protecting your privacy and the confidentiality of your personal information, consistent with the South Australian Government's Information Privacy Principles. If you would like to view the full privacy statement please visit: http://www.ocba.sa.gov.au/privacy.html
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