Australian Capital Territory Numbered Acts

CO-OPERATIVE SOCIETIES (AMENDMENT) ACT 1991 (NO. 33 OF 1991) - SECT 3

3. Section 4 of the Principal Act is amended—

        (a)     by inserting in subsection (1) the following definitions:

“ ‘deadline', in relation to a financial year of a society, means the end of the fourteenth day before the last day of the period within which the society is required to hold an annual general meeting in relation to that financial year;

‘group', in relation to a holding society at the end of a financial year, means—

        (a)     the society; and

        (b)     its subsidiary at the end of the financial year;

‘group accounts', in relation to a society, means, if the society is a group holding society at the end of the financial year concerned;

        (a)     a set of consolidated accounts for the group;

        (b)     2 or more sets of consolidated accounts together covering the group;

        (c)     separate accounts for each subsidiary in the group; or

        (d)     the combination of one or more sets of consolidated accounts, and one or more sets of separate accounts, together covering the group;

‘holding society' means a society which has another society or other corporation as a subsidiary;”; and

    (b)     by omitting subsection (4) and substituting the following subsection:

“(4) In subsections (2A), (2B) and (2C)—

‘corporation' means—

        (a)     a society; or

        (b)     a corporation within the meaning of the Corporations Act 1989 of the Commonwealth.”.