A group of people intending to form a co-operative must register with NSW Fair Trading. A co-operative is a legal entity that is owned and controlled by members. As a legal entity, a co-operative has a corporate status similar to a company that can enter into contracts, sue or be sued, and purchase property.
Co-operatives are based on the International Principles of Co-operation and may be formed for a specific purpose to undertake a variety of activities. Co-operatives are required to conform to usual business controls.
Please note that a new Co-operatives National Law (CNL) commenced on 3 March 2014. The CNL introduces new laws for the registration of co-operatives. Please contact Registry Services at NSW Fair Trading for further information regarding these requirements.