Co-operatives National Law Regulation 2020 (Qld)

Co-operatives National Law Regulation 2020

Part 1 Preliminary

1 Short title This regulation may be cited as the Co-operatives National Law Regulation 2020.

2 Commencement This regulation commences on 1 December 2020, immediately after the commencement of the Co-operatives National Law Act 2020, section 27.

3 Definitions In this regulation— the Law means the Co-operatives National Law (Queensland). the Regulation means the Co-operatives National Regulation (Queensland).

Part 2 Prescribed matters

4 Unsuitable names for co-operatives—the Law , s 220 For section 220(5) of the Law and regulation 3.7 of the Regulation, a name is declared an unsuitable name for a co-operative if the Registrar is satisfied— (a) the name is likely to mislead, including, for example, because the name is likely to mislead a person about the nature, objects or functions of the co-operative; or (b) the name is identical to, or closely resembles, the name of another co-operative registered in this jurisdiction or in a participating jurisdiction.

5 Entities exempt from using particular words in name—the Law , ss 220 and 225 For sections 220(7) and 225(2) of the Law, the following entities are exempt from sections 220(4) and 225(1) of the Law— (a) a society under the Financial Intermediaries Act 1996; (b) a corporation that is allowed, under an Act of a State or the Commonwealth, to use 'co-operative' or 'cooperative' or the abbreviation 'co-op' or 'coop' in its name.

6 Applications for transfer—the Law , s 403 For section 403(b) of the Law, a corporation under any of the following laws is prescribed— (a) the Associations Incorporation Act 1981; (b) the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cwlth); (c) the Financial Intermediaries Act 1996; (d) another Act of a State or the Commonwealth that provides for the incorporation of a building society, credit union or friendly society.