Australian Capital Territory Numbered Regulations

CO-OPERATIVES NATIONAL LAW (ACT) REGULATION 2017 (NO 11 OF 2017) - REG 10

    (1)     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, section 3 (the old rules ).

    (2)     However, if a co-operative is operating under the old rules—

        (a)     if there is an inconsistency between a provision of the old rules and a provision of the new law, the provision of the new law prevails; and

        (b)     a reference in the old rules to a requirement in the Cooperatives Act 2002

or the Cooperatives Regulation 2003

(a  former requirement ) is to be read as a reference to the requirement in the new law that substantially corresponds to the former requirement; and

        (c)     a reference in the old rules to—

              (i)     a trading cooperative is to be read as a reference to a distributing co-operative; and

              (ii)     a non-trading cooperative is to be read as a reference to a non-distributing co-operative.

    (3)     In this section:

"new law" means the following:

        (a)     the Act;

        (b)     this regulation;

        (c)     the Co-operatives National Law (ACT) ;

        (d)     the Co-operatives National Regulation (ACT) .