You are viewing an archived copy of this website captured Thu Feb 06 13:27:03 AEDT 2014
Tasmanian Government Logo
Feature Image
 
CONTACT  |  DISCLAIMER
Link to the Tas government site

Applying for Registration

 

 

1. Documents to be lodged with Consumer Affairs and Fair Trading at least 28 days of the information meeting:
 

Trading co-operatives

 Non-trading co-operatives 


 

2.    The Formation Meeting

After Consumer Affairs and Fair Trading has approved the application a formation meeting can be held. The minimum number of members present is 5.

Other requirements relating to the formation meeting are:

  • The proposed rules must be passed by two-thirds of the proposed members attending the meeting.
  • The proposed members must sign the co-operative's application for membership.
  • The proposed members must elect the first Directors of the proposed co-operative in accordance with the proposed rules.
  • The proposed members must authorise a person to apply to Consumer Affairs and Fair Trading for registration of the proposed co-operative, and to do any act or thing necessary to have the co-operative registered.


Trading Co-operatives must also present the disclosure statement to the meeting.


 

3. Lodging the form 

The Application for Registration accompanied by the Statement Listing Director's Details must be lodged with Consumer Affairs and Fair Trading with the fee within 2 months after the formation meeting.

 

4. Registration

Once registered, a Certification of Registration will be issued.

 

Disclosure Statement

A written disclosure statement is to ensure the prospective members are adequately informed of the nature and extent of a person's financial involvement or liability as a member of the co-operative.

 

The disclosure statement contains a number of sections to be completed together with the provision of annexures.  When completed, a draft must be submitted to Consumer Affairs and Fair Trading at least 28 days before the formation meeting is held.

 

Consumer Affairs and Fair Trading may approve the draft statement as submitted or may approve an amended statement of refuse to approve the statement.  Approval is given by Consumer Affairs and Fair Trading by notice in writing to the person who submitted the draft statement.

 

The major areas to consider in the disclosure statement are:

  • The rights and liabilities attaching to shares (including the capital required for the co-operative).
  • The nature of the proposed membership of the co-operative including details of active membership requirements and objects.
  • Details of how the co-operative will perform its activities.
  • Particulars of how the co-operative will be managed, including details of:
    • Proposed directors.
    • Proposed directors' interests in any contract with the co-operative.
    • Day to day management.
    • Responsibility for accounting and financial functions of the co-operative.
    • Name of auditor together with written consent to appointment.
  • Detailed financial information including details of:
    • Start up funding showing internal and external source of funds.
    • Property and assets.
    • Trading stock.
    • Market research.
    • Estimated costs of formation.
    • Any contracts required to be entered into by the co-operative.
    • Proposed contracts which the co-operative will assume once formed.
    • Projected cash flow budget in the format provided or by annexure.
    • Projected income and expenditure statement in the format provided or by annexure.