business.gov.au

Registration of a Co-operative - South Australia

Description

A co-operative is a voluntary trading organisation owned and managed by its members for a common benefit. 

You will need this registration if you intend to form a co-operative. Co-operatives are:

  • a company – they can be formed by at least five people or are registered corporations
  • open to people who use its services and are willing to be active members
  • democratic – members have equal voting rights and share in making policies and decisions.

There are two types of co-operative:

  • distributing – it can give surplus funds to its members
  • non-distributing – uses extra funds to support its activities and can’t distribute funds to members.

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:

  • held a formation meeting
  • approved rules
  • an approved disclosure statement
  • at least five ‘active members’ – an individual, joint or body corporate. At least 40% of the total membership must be able to show they are active through their use or support of the co-operative’s main activities.

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.

Forms

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

Consumer and Business Services

Contact details

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