YK889 [2008/03/18]
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Model Statute – Co-op Act 2005 / Tertiary Co-op
……………………………………………………………………………………………………………….
TERTIARY CO-OPERATIVE LIMITED
NAME
1.
[a]
The name of
the Co-operative
is …………………...…………………………………………
………………………………………………………………………………. TERTIARY CO-OPERATIVE LIMITED.
[b]
The abbreviated name is ………………………………………………..... (CO-OP.) LTD. (if applicable)
[c]
The Co-operative may trade as ……………………………….………………………….. (if applicable)
FORM OF CO-OPERATIVE
2.
This is the statute of an undertaking formed as a Tertiary co-operative with limited liability in terms of
the provisions of the Co-operatives Act, 14 (Act 14 of 2005).
INTERPRETATION OF TERMS
3.
In this statute, unless the context indicates otherwise, a word or expression to which a meaning is
attached in the Co-operatives Act, 2005 (Act 14 of 2005) shall have a similar meaning and -
“the Act”………….
means the Co-operatives Act, 2005 (Act 14 of 2005);
“co-operative”…..
means ………………………..……………………………………………………
………………………..……………………………. TERTIARY CO-OPERATIVE
LIMITED which is incorporated in terms of the Act;
“board”……………
means the board of directors referred to in clause 22;
“gender” ………….
a reference in this statute to the masculine gender shall also include
the feminine gender and vice versa: and
“member”………….
means a registered Secondary co-operative which has been
accepted as a member by the directors in terms of clause 10;
“patronage
proportion” ………..
means the proportion in which the value of the transactions
conducted by a member with a co-operative during a specified
period bears to the value of the transactions conducted by all
members with a co-operative during the same period.
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PLACES OF BUSINESS
4.
The
main
place
of
business
of
the
co-operative
is
situated
at
……………………………………….…………….. (place), ……………………………………………. (Province).
5.
The co-operative may not establish any branches.
OBJECTIVES
6.
The objectiv