business.gov.au

Registration of a Co-operative - Australian Capital Territory

Description

You will need this registration if you intend to form a co-operative. A co-operative is an organisation owned and controlled by its members that operates primarily for the economic, social or cultural benefit of its members. A co-operative legally registered in one jurisdiction is able to operate on a national basis without the need for further registration or reporting requirements.

A co-operative can be either a:

  • distributing co-operative
  • non-distributing co-operative.

A distributing co-operative distributes part of a surplus to the members of the co-operative as bonus shares, dividends or rebates. Non-distributive co-operatives do not distribute parts of a surplus to its members as they are not-for-profit organisations which exist for the purposes of community benefit.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this registration, the proposed co-operative must have:

  • approved rules
  • an approved draft disclosure statement
  • two or more co-operatives (for a co-operative group)
  • a membership of five or more people (for any other co-operative)
  • held a formation meeting.

Duration

As specified

Fees

Fees Details for this service in table format.

Task Type Business Structure Description
Apply Application All

Fee information is in the attached fee resource.

Act(s) name

Co-operatives National Law (ACT) Act 2017 Australian Capital Territory

Regulation(s) name

Co-operatives National Law (ACT) Regulation 2017 Australian Capital Territory

Application process

Apply

There are three steps to registering a new co-operative:

  1. Approval of a set of rules by the Registrar. A draft disclosure statement for distributing co-operatives must also be approved, and for other co-operatives if required by the Registrar.
  2. Once approved, a formation meeting is held to formally adopt the rules and, where a disclosure statement is required, to present the disclosure statement to prospective members.
  3. After the formation meeting, an application to register a co-operative form is lodged with the Registrar.

Administering agency

Justice and Community Safety Directorate

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.