Co-operatives National Law (Tasmania) Local Regulations 2015 (Tas)

Co-operatives National Law (Tasmania) Local Regulations 2015

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 section 15 of the Co-operatives National Law (Tasmania) Act 2015 .

4 August 2015

C. WARNER

Governor

By Her Excellency's Command,

MICHAEL DARREL JOSEPH FERGUSON

Acting for and on Behalf of the Minister for Justice

PART 1 - Preliminary

1. Short title These regulations may be cited as the Co-operatives National Law (Tasmania) Local Regulations 2015 .

2. Commencement These regulations take effect on 1 September 2015.

3. Interpretation (1) In these regulations – Act means the Co-operatives National Law (Tasmania) Act 2015 . (2) Terms used in these regulations and the Co-operatives National Law (Tasmania) have the same meaning in these regulations as they have in the Co-operatives National Law (Tasmania).

PART 2 - Prescription of Matters for the Co-operatives National Law (Tasmania) and Co-operatives National Regulations (Tasmania)

4. Unsuitable names for co-operatives For the purposes of section 220(5) of the Co-operatives National Law (Tasmania) and regulation 3.7 of the Co-operatives National Regulations (Tasmania), a name is otherwise unsuitable if the Registrar is satisfied that it is likely to mislead.

5. Exemption from restriction on corporations registering name including word co-operative or similar words For the purposes of section 220(7) of the Co-operatives National Law (Tasmania), a corporation is exempt from section 220(4) of the Co-operatives National Law (Tasmania) if the corporation is – (a) a company that is permitted to use the expression building society, credit union or credit society under section 66 of the Banking Act 1959 of the Commonwealth; or (b) a company that is a friendly society for the purposes of the Life Insurance Act 1995 of the Commonwealth.