Tasmania is now part of a national legislative scheme regulating the formation, registration and management of co-operatives. On 1 September 2015 the Cooperatives Act 1999 was replaced by the Co-operatives National Law (Tasmania) Act 2015 and the Co-operatives National Law (Tasmania) Local Regulations 2015.
Existing co-operatives do not need to do anything to transition to the new law. All co-operatives currently registered under the Cooperatives Act 1999 will have their registration transferred to the new law automatically. A Fact Sheet explaining the Co-operatives National Law as well as new forms (with corresponding fees) are available.
For further advice on how these changes affect your co-operative, please call the Consumer Affairs and Fair Trading hotline on 1300 654 499 or email email@example.com
A co-operative that is legally registered in one jurisdiction can now operate on a national basis without the need for any further registration or reporting requirements in each State. This is in line with the rights and obligations of companies under the Corporations Act 2001.
The new legislation provides for the creation of the role of Registrar of Co-operatives. This role will be undertaken by the Director of Consumer Affairs in Tasmania. The Registrar can be contacted through the Office of Consumer Affairs and Fair Trading.
Co-operatives have been divided into small co-operatives and large co-operatives based on their size, membership, assets and fundraising activities.
Directors and officers of co-operatives have certain obligations and duties under the Co-operatives National Law.
A set of Model Rules containing the minimum requirements for co-operatives are available.