Co-operatives National Law |
The Co-operatives National Law is a template law scheme proposed to be introduced by New South Wales during 2012. Each State and Territory will either adopt the template law or pass a consistent co-operatives law within 12 months of the law being passed in New South Wales.
A draft of the Co-operatives National Law was released for public comment by the Ministerial Council on Consumer Affairs in December 2009.
Submissions and additional consultation conducted in each State and Territory resulted in a number of changes to the draft Co-operatives National Law.
The 2009 Co-operatives National Law Exposure Draft and public submissions can be accessed here (Note that this version of the Co-operatives National Law does not contain any changes made as a result of the public consultation process during 2009 and 2010).
Submissions are now closed, but may still be viewed here.
National Regulations for financial reporting by small co-operatives
National regulations are required to provide detail and support for the Co-operatives National Law. Some key changes that are proposed under the Co-operatives National Law are:
- simplification of financial reporting by small co-operatives
- the definition of a small co-operative
- obligations for small co-operatives to report to members.
A discussion paper, Financial Reporting Obligations for Small Co-operatives, has been prepared seeking input to assist the drafting of the National Regulations for the proposed financial reporting regime. Comment on the discussion paper is invited from all interested parties. New South Wales Fair Trading is coordinating submissions on behalf of all States and Territories.
The discussion paper can be accessed here.
How to make submissions
Submissions can be sent to the New South Wales coordinator as follows:
Email in either PDF or Word to:
cooperatives_national_law@services.nsw.gov.au
Mail:
Robyn Donnelly
Registry of Co-operatives & Associations
NSW Fair Trading
P O Box 22
Bathurst NSW 2795
Enquiries:
Robyn Donnelly 02 6333 1430
Submissions close on 7 December 2011.
Free email updates
Keep up-to-date with developments of the Cooperatives National Law - sign up to receive FREE email updates by visiting www.fairtrading.nsw.gov.au
Last reviewed 10/11/2011 |
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