OCBA - The Rules

The Rules

The rules provide for the internal governance and the way the co-operative will organise its activities. They outline the co-operative's primary activity or activities, objects, active membership provisions, qualifications for members and directors, admission of new members, matters relating to shares, charges, meeting procedures, distribution of surplus, accounts and audit requirements, and more.

Pursuant to section 101(1) of the Act, the rules have the effect of a contract between the co-operative and each member; and between the co-operative and each director, the principal executive officer and the secretary of the co-operative; and between a member and each other member. Under the contract, each of those persons agrees to observe and perform the provisions of the rules as in force for the time being so far as those provisions apply to that person. The rules are the constitution of the organisation.

The rules of a co-operative must be in accordance with section 102 of the Act and Schedule 1 to the Act. Co-operatives may compose their own rules addressing all the requirements of the Act. Model rules are available from Co-operatives Publications.

If the model rules relating to a co-operative deal with a matter that is not dealt with in the co-operative's rules, then the model rules relating to that matter are deemed to be included in the rules of the co-operative.

When completed, a draft of the rules of the co-operative must be submitted to CBS, with Form 2, at least 28 days before the formation meeting is held. If, at the time of lodgement, the model rules have been published, and the co-operative's rules contain any alterations to the model rules, the draft must be accompanied by a statement setting out the alterations and the reasons for the alterations. (See section 18(2) of the Act).

CBS may approve the rules as submitted or may approve the rules with amendments refuse to approve the rules. Approval is given by CBS by notice in writing to the person who submitted the rules.

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