Co-operative Housing Societies Regulations 1998

Co-operative Housing Societies Regulations 1998

I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Co-operative Housing Societies Act 1963 .

G. S. M. Green

Governor

By His Excellency's Command,

David Crean

Treasurer

1.   Short title

These regulations may be cited as the Co-operative Housing Societies Regulations 1998 .

2.   Commencement

These regulations take effect on 1 January 1999.

3.   Interpretation

In these regulations, unless the contrary intention appears –

Act means the Co-operative Housing Societies Act 1963 ;

fee unit has the same meaning as in the Fee Units Act 1997 ;

insurance company means a body corporate authorised under the Insurance Act 1973 of the Commonwealth to carry on insurance business;

management income means the total sum which is received by a society during a financial year on account of management fees, transfer fees, withdrawal fees, service fees, production fees and insurance commission, but does not include money received as an entrance fee for membership of a society or money received from fines or penalties on payments made in arrears.

4.   Forms

(1)  In these regulations, a reference to a form and number is a reference to the Form bearing that number set out in Schedule 1 .

(2)  A reference a Form set out in Schedule 1 to the secretary of a society is, if the society does not have a secretary, a reference to an officer of the society who holds a position of a like nature to that of secretary.

5.   Application for registration

An application for registration of a society under section 16(4) of the Act is to be in accordance with Form 1.

6.   Certificate of incorporation

A certificate of incorporation of a society issued under section 18(1) of the Act is to be in accordance with Form 2.

7.   Change of name of society

(1)  An application for approval to change the name of a society under section 17(7) of the Act –

(a) is to be in accordance with Form 3; and

(b) is to be verified by a statutory declaration in accordance with Form 4; and

(c) is to be made within one month after the passing of the special resolution to change the name.

(2)  After registering the change of name, the Registrar must return to the society –

(a) a copy of the application endorsed by the Registrar with notification of the registration of the change of name; and

(b) the certificate of incorporation with the change of name noted on it or a new certificate of incorporation in accordance with Form 5.

8.   Advertisement of change of name

Within 30 days after registering a change of name of a society, the Registrar must cause the change of name to be advertised in a newspaper circulating generally in Tasmania.

9.   Address and hours of registered office

(1)  A notice of address of the registered office of a society and the days and hours during which the society is open and accessible to members under section 32(2) of the Act is to be in accordance with Form 6.

(2)  A notice of a change of address of the registered office of a society, or of the days and hours during which the society is open and accessible to members, under section 32(2) of the Act is to be in accordance with Form 7 or Form 8, as the case requires.

10.   Keeping of registers and accounts

(1)  A society must keep the following registers and accounts:

(a) a register of members, shares and advances that is in accordance with Form 9;

(b) a register of directors that is in accordance with Form 10;

(c) a register of loans raised and securities given by the society that is in accordance with Form 11;

(d) other registers and accounts as are necessary to enable the society to compile an annual statement of accounts that is in accordance with Form 12 for each financial year.

(2)  A register may –

(a) be kept in writing; or

(b) be in electronic form if it is available for access by creditors, the Registrar, external auditors and persons authorised under section 7 of the Act.

11.   Change of directors

A notification of change of directors under section 36(1) of the Act is to be in accordance with Form 13.

12.   Annual list of directors

A list of directors under section 36(2)(a) of the Act is to be in accordance with Form 14.

13.   List of members

A list of members under section 36(3) of the Act is to be in accordance with Form 15.

14.   Minutes of meetings

(1)  At a meeting of a society, a Board or any committee of a society or Board, or other person deputed for the purpose by the Board must take minutes of the proceedings and record them in an appropriate minute book.

(2)  The minutes of a meeting are to record –

(a) the date and place of the meeting; and

(b) the persons attending the meeting; and

(c) the matters discussed at the meeting; and

(d) the decisions made at the meeting; and

(e) the action required to be taken as a consequence of the meeting.

(3)  The minutes of a meeting of a society, Board or committee of a society or Board –

(a) are to be taken into consideration as the first business of the next general meeting of the society, Board or committee; and

(b) are to be signed after confirmation by the chairperson of the meeting at which they are confirmed.

(4)  The only motions or discussions with respect to the minutes that may be moved or had at a meeting of a society, Board or committee of a society or Board are those relating to their accuracy as a record of the proceedings of which they purport to be a record and their confirmation.

15.   Maximum amount of total fees to officers other than directors

(1)  The maximum amount of the management income which may be paid in any financial year by a society to its officers, other than directors, for management of the day-to-day affairs of a society is an amount equal to 70% of the society's management income.

(2)  A society may pay its officers an amount exceeding that specified in subregulation (1) if –

(a) the payment is authorised by a special resolution of the society; and

(b) after the special resolution has been passed, it is approved by the Registrar.

(3)  The Registrar may, in his or her discretion, withdraw approval of a special resolution approved under subregulation (2) at any time by notice provided to the society.

(4)  If the Registrar withdraws approval of a special resolution, the society must immediately cease paying its officers an amount exceeding that specified in subregulation (1) .

16.   Maximum amount of total fees to directors

(1)  The maximum amount which may be paid by a society in any one financial year to its directors is an amount equal to 5% of the society's management fees.

(2)  A society may pay its directors an amount exceeding that specified in subregulation (1) if –

(a) the payment is authorised by a special resolution of the society; and

(b) after the special resolution has been passed, it is approved by the Registrar.

(3)  The Registrar may, in his or her discretion, withdraw approval of a special resolution approved under subregulation (2) at any time by notice provided to the society.

(4)  If the Registrar withdraws approval of a special resolution, the society must immediately stop paying its directors an amount exceeding that specified in subregulation (1) .

17.   Fees for directors appointed by Minister

[Regulation 17 Amended by No. 86 of 2000, Sched. 2, Applied:01 May 2001] A director appointed under section 42(1) of the Act who is not a State Service officer or State Service employee may be paid a fee not exceeding $25 with respect to each meeting of the Board and each general meeting of the society he or she attends.

18.   Security to be provided by officers

(1)  The prescribed security for the purposes of section 47(4) of the Act is a policy of insurance from an insurance company.

(2)  An officer or other person must not have the receipt or charge of any money of a society before the prescribed security has been obtained.

19.   Valuation reports

A valuation report under section 52(3) of the Act is to be verified in accordance with Form 16.

20.   Amalgamation and transfer of engagements of a society

(1)  A notice under section 53(5) of the Act –

(a) is to be in accordance with Form 17 or Form 18, as the case requires; and

(b) is to be lodged in duplicate; and

(c) is to be lodged within one month after the date of the meeting at which the special resolution to which it relates was passed; and

(d) is to be verified by a statutory declaration, in accordance with Form 19, made by the chairperson of that meeting and the secretary of the relevant society; and

(e) is to be accompanied by –

(i) a copy of the special resolution, signed by the chairperson of that meeting, countersigned by the secretary of that society, and marked as an exhibit to the statutory declaration referred to in paragraph (d) ; and

(ii) a copy of the scheme of amalgamation or the scheme for the transfer of the engagements, signed by the secretary of that society and not less than three other members of the society, and marked as an exhibit to that statutory declaration; and

(iii) a copy of the notice convening that meeting.

(2)  On registering a special resolution and scheme of amalgamation or scheme for transfer, the Registrar must return to the amalgamated society or society transferring the engagements one copy of the notice lodged with him under section 53(5) of the Act with an acknowledgment of registration endorsed on it in accordance with Form 17 or Form 18, as the case requires.

(3)  A new certificate of incorporation issued under section 53(6)(a)(ii) of the Act is to be in accordance with Form 20.

(4)  A notice under section 53(6)(b) of the Act is to be in accordance with Form 21.

21.   Dissolution of a society

(1)  On the dissolution of a society, the Registrar must –

(a) strike the name of the society off the register of societies; and

(b) keep a note of the date on which the dissolution of the society took effect.

(2)  A notice under section 59(2) of the Act of the dissolution of a society –

(a) is to be in accordance with Form 22; and

(b) is to be published in the Gazette and in a newspaper circulating generally in Tasmania.

22.   Registration of certain special resolutions

(1)  This regulation applies to a special resolution that is not a special resolution to change the name of a society or a special resolution in relation to the amalgamation of 2 or more societies or for the transfer of the engagements of a society.

(2)  An application to register a special resolution is to be lodged with the Registrar and is to be in accordance with Form 23.

23.   Fees

The fees specified in Schedule 2 have effect with respect to the matters specified in that Schedule.

24.   Expiry of regulations

[Regulation 24 Amended by S.R. 2000, No. 188, Applied:25 Oct 2000] These regulations cease to have effect at the end of 31 December 2004.

SCHEDULE 1 - Forms

Regulation 4(1)

Form 1 - APPLICATION TO REGISTER A SOCIETY

Regulation 5

Form 2 - CERTIFICATE OF INCORPORATION

Regulation 6

Form 3 - APPLICATION FOR APPROVAL OF A CHANGE OF NAME

Regulation 7

Form 4 - DECLARATION TO ACCOMPANY APPLICATION FOR REGISTRATION OF A CHANGE OF NAME OF A SOCIETY

Regulation 7

Form 5 - NEW CERTIFICATE OF INCORPORATION ON CHANGE OF NAME

Regulation 7

Form 6 - NOTICE OF ADDRESS OF REGISTERED OFFICE AND OFFICE HOURS

Regulation 9(2)

Form 7 - NOTICE OF CHANGE OF ADDRESS OF REGISTERED OFFICE

Regulation 9(2)

Form 8 - NOTICE OF CHANGE OF OFFICE HOURS OF REGISTERED OFFICE

Regulation 9(2)

Form 9 - REGISTER OF MEMBERS, SHARES AND ADVANCES

Regulation 10

Form 10 - REGISTER OF DIRECTORS

Regulation 10

Form 11 - REGISTER OF LOANS RAISED AND SECURITIES GIVEN BY SOCIETY

Regulation 10

Form 12 - ANNUAL STATEMENT OF ACCOUNTS OF A SOCIETY

Regulation 10

Form 13 - NOTIFICATION OF CHANGE OF DIRECTORS

Regulation 11

Form 14 - LIST OF DIRECTORS

Regulation 12

Form 15 - FULL LIST OF MEMBERS

Regulation 13

Form 16 - VERIFICATION OF VALUATOR'S REPORT

Regulation 19

Form 17 - NOTICE OF PASSING OF A SPECIAL RESOLUTION FOR THE AMALGAMATION OF TWO OR MORE SOCIETIES

Regulation 20

Form 18 - NOTICE OF PASSING OF A SPECIAL RESOLUTION FOR THE TRANSFER OF THE ENGAGEMENTS OF A SOCIETY

Regulation 20

Form 19 - STATUTORY DECLARATION VERIFYING A NOTICE OF THE PASSING OF A SPECIAL RESOLUTION FOR THE AMALGAMATION OF TWO OR MORE SOCIETIES OR FOR THE TRANSFER OF THE ENGAGEMENTS OF A SOCIETY

Regulation 20

Form 20 - NEW CERTIFICATE OF INCORPORATION CONSEQUENT UPON THE AMALGAMATION OF TWO OR MORE SOCIETIES

Regulation 20(3)

Form 21 - NOTICE OF AMALGAMATION OF CO-OPERATIVE HOUSING SOCIETIES

Regulation 20(4)

Form 22 - NOTICE OF DISSOLUTION OF C0-0PERATIVE HOUSING SOCIETY

Regulation 21

Form 23 - APPLICATION TO REGISTER A SPECIAL RESOLUTION

Regulation 22

SCHEDULE 2 - Fees

Regulation 23

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 30 December 1998

These regulations are administered in the Department of Treasury and Finance.