Hon George Cash inquires about plans to modernise the Companies (Co-operative) Act 1943, including potential uniform legislation and discussions at SCAGs. The Attorney General responds, detailing past discussions at MINCO regarding uniform legislation and amendments to the Corporations Law to ensure a seamless interface with co-operative regulation.

AnsweredQoN 632Legislative Council
Asked
1 April 2003
Portfolio
Attorney General

QuestionView source ↗

I refer to the
Companies (Co-operative) Act 1943
, and ask -
(1) Is it intended to modernise this Act by introducing Uniform Legislation or by introducing amendments to the existing Act?
(2) Has the future of this Act been discussed at SCAGs?
(3) If so, what was the nature of these discussions and did SCAGs reach any conclusion on amendments to this Act or other similar legislation applying in other States?

AnswerView source ↗

Answered
6 May 2003
Responded by
Minister for Racing and Gaming representing the Attorney General
Response time
35 days
(2) Uniform state cooperative companies legislation based on “core consistent provisions” was discussed at meetings of the Ministerial Council for Corporations on 24 October 1996 and 15 April 1999. (3) As States, ACT and NT had previously agreed to “core consistent provisions” legislation for co-operatives, at those meetings MINCO agreed to amendments to the Corporations Law (which has subsequently become the Corporations Act 2001 (C’lth)) to provide for an appropriate “roll back” of that C’lth Law to achieve a seamless interface between the Corporations Law and the regulation of co-operatives.
(3) As States, ACT and NT had previously agreed to “core consistent provisions” legislation for co-operatives, at those meetings MINCO agreed to amendments to the Corporations Law (which has subsequently become the Corporations Act 2001 (C’lth)) to provide for an appropriate “roll back” of that C’lth Law to achieve a seamless interface between the Corporations Law and the regulation of co-operatives.

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