Co-operatives National Law (Tasmania) Local Regulations 2015

1. Short title These regulations may be cited as the Co-operatives National Law (Tasmania) Local Regulations 2015.

2. Commencement These regulations take effect on 1 September 2015.

3. Interpretation (1) In these regulations – Act means the Co-operatives National Law (Tasmania) Act 2015. (2) Terms used in these regulations and the Co-operatives National Law (Tasmania) have the same meaning in these regulations as they have in the Co- operatives National Law (Tasmania). PART 2 - Prescription of Matters for the Co-operatives National Law (Tasmania) and Co-operatives National Regulations (Tasmania)

4. Unsuitable names for co-operatives For the purposes of section 220(5) of the Co-operatives National Law (Tasmania) and regulation 3.7 of the Co-operatives National Regulations (Tasmania), a name is otherwise unsuitable if the Registrar is satisfied that it is likely to mislead.

5. Exemption from restriction on corporations registering name including word co-operative or similar words For the purposes of section 220(7) of the Co-operatives National Law (Tasmania), a corporation is exempt from section 220(4) of the Co-operatives National Law (Tasmania) if the corporation is – (a) a company that is permitted to use the expression building society, credit union or credit society under section 66 of the Banking Act 1959 of the Commonwealth; or (b) a company that is a friendly society for the purposes of the Life Insurance Act 1995 of the Commonwealth.

6. Exemption from restriction on use of word co-operative or similar words For the purposes of section 225(2) of the Co-operatives National Law (Tasmania), a person is exempt from section 225(1) of the Co-operatives National Law (Tasmania) if the person is – (a) a company that is permitted to use the expression building society, credit union or credit society under section 66 of the Banking Act 1959 of the Commonwealth; or (b) a company that is a friendly society for the purposes of the Life Insurance Act 1995 of the Commonwealth.

7. Application for transfer For the purposes of section 403(b) of the Co-operatives National Law (Tasmania), the following are prescribed – (a) the Associations Incorporation Act 1964; or (b) the Corporations (Aboriginal and Torres Strait Islander) Act 2006 of the Commonwealth; or (c) any legislation of the Commonwealth that provides for the incorporation of a building society, credit union or friendly society.

8. Procedures regarding giving of exemptions For the purposes of section 621 of the Co-operatives National Law (Tasmania), an application for an exemption must be made – (a) in writing; and (b) within a reasonable time before the event, or the occurrence of the matter, for which the exemption is sought. PART 3 - Fees

9. Prescribed fees The fees specified in Schedule 1 are prescribed as the fees that are payable under the Co-operatives National Law (Tasmania) for the matters to which they respectively relate. PART 4 - Miscellaneous

10. Co-operatives may continue to operate under old rules (1) Subject to subregulation (2), a co-operative may continue to operate under the rules applying to the co-operative that were in force immediately before the commencement of the Act (the old rules). (2) While a co-operative is operating under the old rules – (a) if there is any inconsistency between a provision of the old rules and a provision of the Act, the Co-operatives National Law (Tasmania), the Co- operatives National Regulations (Tasmania) or these regulations, the provision of the Act, the Co-operatives National Law (Tasmania), the Co-operatives National Regulations (Tasmania) or these regulations, respectively, prevails; and (b) if there is any reference in the old rules to a requirement contained in the Cooperatives Act 1999 or the Cooperatives Regulations 2010 (the former requirement), that reference is to be read as a reference to the requirement, contained in the Act, the Co-operatives National Law (Tasmania), the Co- operatives National Regulations (Tasmania), or these regulations, respectively, that substantially corresponds to the former requirement; and (c) any reference in the old rules to – (i) a co-operative being a trading co-operative, is to be read as a reference to the co-operative being a distributing co-operative; and (ii) a co-operative being a non-trading co-operative, is to be read as a reference to the co-operative being a non-distributing co-operative.

SCHEDULE 1 - Prescribed Fees Regulation 9 Column Column 1 Column 2 Column 3 4 Provision of Co- operatives Fee Item Description National Law Units (Tasmania) 1. Section 23(1)(a) Submission of draft rules to the Registrar before the formation meeting 46 2. Section 23(1)(b) Submission of a draft formation disclosure statement to the Registrar 165 3. Section Application for registration of a proposed co-operative 18 26(1)(b)(ii) 4. Section 31(b)(ii) Application for registration of existing corporation 18 5. Section 37(b)(ii) Issue of duplicate certificate of registration 18 6. Section 60 Application to the Registrar for an amendment of rules requiring prior approval of the Registrar 46 7. Section 63(2) Application for registration of an amendment of the rules 18 8. Section 63(4) Application for certificate of rule change 18 9. Section 71 Application for exemption from disclosure statement requirements for distributing co-operatives 46 10. Application to register a disclosure statement to accompany a proposal to require a member to take up or Section 82(3)(a) 165 subscribe for additional shares 11. Application to extend the period during which a co-operative can carry on business with fewer than the Section 119(4) 165 minimum number of members 12. Section 152(3) Application to determine a member's eligibility to vote 165 13. Application for exemption from provisions relating to the entitlements of former members of distributing Section 171 165 co-operatives 14. Section Application to keep the co-operative's register at a location approved by the Registrar 46 213(1)(d) 15. Section 221(1) Application to omit the word Limited or the abbreviation Ltd from the name of a co-operative 92 16. Section 222(e) Application to use an abbreviation or elaboration of the name of a co-operative 46 17. Section 224 Application to change the name of a co-operative 165 18. Section 233(2) Application for a review by the Registrar of a member's right to vote 165 19. Section Filing fee for registration of each special resolution 46 243(2)(c)(ii) 20. Section 244(3) Application for a certificate of registration of a special resolution 18 21. Section 248(3) Application for the approval of a disclosure statement for the purpose of a special postal ballot 165 22. Section 289 Lodgement of annual report by large co-operative 165 23. Section 293 Lodgement of annual return by small co-operative 46 24. Section 316 Application for an exemption relating to an individual co-operative 165 Application for exemption of certain persons (in respect of a class of co-operatives) from all or specified 25. Section 317 165 requirements of target provisions 26. Section 319 Application for an exemption relating to non-auditors and former members of audit firms or companies 165 27. Application for exemption of certain persons (in respect of a class of audit firms or audit companies) from Section 320(1) 165 all or specified requirements of target provisions 28. Section 322 Application for an exemption from the Co-operatives National Regulations (Tasmania) 165 29. Lodgement of disclosure documents for issue of debentures required for the purposes of the Corporations Section 337 1300 application legislation applied by section 337 of the Co-operatives National Law (Tasmania) 30. Application for exemption from or modification of disclosure provisions under Chapter 6D of the Section 337 680 Corporations Act 2001 as applied by section 337 of the Co-operatives National Law (Tasmania) 31. Section 338(3) Application for the approval of a disclosure statement concerning the issue of debentures 165 32. Application to the Registrar for approval of a disclosure statement concerning a compulsory loan by Section 343(3)(a) 165 members to a co-operative 33. Application to the Registrar for an exemption from section 343 of the Co-operatives National Law Section 343(10) 165 (Tasmania) 34. Section 350 Application to the Registrar for approval of the issue of Co-operative Capital Units 165 35. Application to the Registrar for an exemption from provisions concerning the acquisition and disposal of Section 359(3) 165 assets of the co-operative 36. Section 363(2) Application for an exemption from provisions concerning the maximum permissible level of share interest 174 37. Application for an exemption from the operation of Division 1 of Part 3.5 of the Co-operatives National Section 372 165 Law (Tasmania) 38. Section Application for an approval of share offers to which Division 2 of Part 3.5 of the Co-operatives National 1300 374(1)(b) Law (Tasmania) applies 39. Application to the Registrar to extend the time permitted for the Board to consider a share offer of the kind Section 376(5) 165 specified in section 373(1) of the Co-operatives National Law (Tasmania) 40. Application for an exemption from the operation of Division 2 of Part 3.5 of the Co-operatives National Section 380 680 Law (Tasmania) 41. Section 396(2) Application to the Registrar for consent to the procedure for a proposed merger or transfer of engagements 46 42. Application for approval of a disclosure statement concerning a proposed merger or transfer of Section 397(2) 165 engagements 43. Application for an exemption from the requirement for a disclosure statement concerning a proposed Section 397(4) 165 merger or transfer of engagements 44. Section 398(1) Application for the approval of a merger or transfer of engagements 46 45. Application for an exemption from the requirements that must be met before an application can be made Section 404(4) 165 for a transfer of incorporation 46. Application to the Registrar for permission for a shorter notice period to the Registrar of the hearing of an Section 416(1)(a) 18 application for a binding compromise or arrangement 47. Application for an exemption from the prohibition on an officer or promoter of a co-operative or related Section 418(1)(f) 165 corporation being appointed to administer a compromise or arrangement 48. Section Application to the Registrar for a statement that the Registrar has no objection to a compromise or 165 424(1)(b) arrangement 49. Filing with the Registrar of an office copy of an order made by the Supreme Court under section 425 of Section 425(4) 18 the Co-operatives National Law (Tasmania) 50. Section 428(1) Application for the approval of an explanatory statement 680 51. Section 445(3) Application for an exemption from compliance with the restrictions placed on voluntary winding-up 165 52. Application to the Registrar to exercise powers under Corporations application legislation relating to Section 453 165 deregistered co-operatives as applied under section 453 of the Co-operatives National Law (Tasmania) 53. Application to the Registrar for consent to a proposed procedure for approving a merger, or transfer of Section 476(2)(a) 46 engagements, involving a participating co-operative 54. Application for approval of a disclosure statement concerning a merger, or transfer of engagements, Section 477(2) 165 involving a participating co-operative 55. Application for an exemption from the requirement for a disclosure statement for a merger, or transfer of Section 477(4) 165 engagements, involving a participating co-operative 56. Section 478(1) Application for approval of a merger, or transfer of engagements, involving a participating co-operative 165 57. Section 531(1)(a) Application to the Registrar to call a special meeting 165 58. Section Application to the Registrar to hold, or appoint an inspector to hold, an inquiry 310 531(1)(b) 59. Section 588 Application to the Registrar for certificate evidence 46 60. Section 601(1)(a) Inspection of register of co-operatives 18 61. Section Inspection of document kept by Registrar 18 601(1)(b) 62. Section 601(1)(c) Obtaining extract from register of co-operatives 18 63. Section Obtaining certified copy of document kept by Registrar 18 601(1)(d) 64. Section 601(1)(e) Obtaining copy of document kept by Registrar 18 65. Section 609(1) Application to the Registrar to grant an extension or shortening of time limits 46 66. Section Application for permission from the Registrar to allow a co-operative to effect service to a member by 46 611(2)(c)(iii) publishing a notice in a relevant newspaper Displayed and numbered in accordance with the Rules Publication Act 1953. Notified in the Gazette on 12 August 2015. These regulations are administered in the Department of Justice. Table Of Amendments Date of Citation Serial Number commencement Co-operatives National Law (Tasmania) Local S.R. 2015, No. 1.9.2015 Regulations 2015 56