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A cooperative is an entity voluntarily owned and controlled by the people for whom it was established and who use its services. It may be formed for the provision of goods or services to its members or for the supply of goods or services to the general public.
A cooperative is a body corporate. It can be formed by five people or corporations, and must be registered. However, unlike companies in general, its main purpose is not profit for its members, but to advance the cooperative's activities.
The Cooperatives Act 1999, Cooperatives Regulations 2000 and the Commonwealth Corporations Act 2001 form the framework for the registration of cooperatives in Tasmania.
Printed copies of the State Act and Regulations can be obtained from the Printing Authority of Tasmania on 03 6233 3289.
Printed copies of the Commonwealth Corporations Act 2001 can be obtained from the Australian Commonwealth Government Bookshop on 1300 850 115.
It is recommended that persons considering a cooperative structure for their activities consult their own solicitor or accountant in the first instance to ensure that such a structure is appropriate to their needs.
Further information on this subject is available on the following pages:
1. Why form a Cooperative?
3. Rules
4. Directors
