Co-operatives National Law Update 2016

The Co-operatives National Law has now commenced in NSW and Victoria (both on 3 March 2014), South Australia (22 May 2015), Northern Territory (1 July 2015) and Tasmania (1 September 2015).

Western Australia is in the process of amending its Co-operatives Act legislation, so that it will be consistent with the national laws. Subject to the passage of the amendment Bill through Parliament and the subsequent amendment of the WA Co-operatives Regulations, WA is planning for the commencement of its alternative consistent legislation during 2016.

ACT is planning for the introduction of its enabling laws in 2017.

Queensland withdrew from the Australian Uniform Co-operative Laws Agreement in January 2015. Following a change of Government, Queensland is considering whether the existing law in Queensland should be made consistent with the national law. In the interim, the Co-operatives Act 1997 (Qld) continues to apply.

Once passed in all states, co-operatives wishing to carry on business across a state or territory border will be able to do so without registering in each jurisdiction.

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

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