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Co-Operative Societies Act 2008

10. Content of by-laws

1.     A registered society shall include in its by-laws provisions for—

a.     conditions of membership, including—

                      i.        the right of joint members, if any;

                     ii.        the qualification for membership and the withdrawal of members and transfer of membership;

                    iii.        the amount of the membership fee and the annual fee, if any, to be paid by members;

                    iv.        the conditions on which membership ceases or may be terminated, the disposition that may be made on cessation or termination of a member’s interest and the determination of the value of the member’s interest; and

                     v.        the minimum value of shares that may be held by each member;

b.    the voting rights and the rights of making, amending and repealing by-laws, the right of members to vote by ballot and the manner, form and effect of votes at meetings;

c.     directors, officers and members of the committees of directors—

                      i.        qualification, terms of office and removal;

                     ii.        the filling of vacancies, and

                    iii.        their powers, duties;

d.    the distribution of the property of the society on the dissolution thereof;

e.     the borrowing powers of the society and the procedure for exercising those powers; and

f.     any matter, in addition to those set out in paragraphs (a) to

g.    that the members consider necessary or desirable.

2.     Subject to subsection (3), where the by-laws requires a greater number of votes or directors of members than that required by this Act to effect any action, the by-laws shall prevail;

3.     The by-laws may not require a greater number of votes of members to remove a director than the number required for a special resolution.

Co-Operative Societies Act 2008 Back

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