Co-operatives National Law will soon replace separate co-operatives legislation in each State and Territory. The national law will remove restrictions on co-operatives doing business in other states and territories. The legislation will also streamline financial reporting requirements for smaller co-operatives and remove inconsistent provisions contained in the old laws.
It is proposed that the new legislation will be adopted by individual jurisdictions during 2012, to coincide with the United Nations' International Year of Co-operatives.
All Australian states and territories are currently working towards passing nationally consistent co-operatives legislation, the Co-operatives National Law (CNL).
The CNL aims to remove the barriers and disincentives to incorporating as a co-operative. A summary of the CNL and how it will affect co-operatives in Tasmania is available here.
If you would to comment on this paper or you would like to discuss how the new CNL will affect your co-operative, contact details are provided at the end of the summary paper.