Co-operatives (National Uniform Legislation) Act.

This Act provides a legislative framework for the formation, registration and operation of co-operatives. The Co-operatives National Law is set out in the Appendix to this Act: a) applies as a law of this jurisdiction; b) as so applying may be referred to as the Co-operatives National Law (NT); and c) as so applying, is a part of this Act. The Co-operatives National Regulations: a) apply as National Regulations in force for the Co-operatives National Law (NT), subject to modifications prescribed by the local regulations; and b) as so applying, may be referred to as the Co-operatives National Regulations (NT). Requirements and proceedings for cooperatives are specified in the text consisting of 624 sections divided into eight Chapters and completed by four Schedules, as follows: Preliminary (Chap. 1); Formation, powers and constitution of co-operatives (Chap. 2); Management and operation of co-operatives (Chap. 3); Structural and other events for co-operatives (Chap. 4); Participating co-operatives (Chap. 5); Supervision and protection of co-operatives (Chap. 6); Legal proceedings and other matters (Chap. 7); and General (Chap. 8). Schedules deal with the following issues: Matters for which rules of co-operative must make provision (Sc. 1); Relevant interests, associates, and related corporations (Sc. 2); Savings and transitional provisions (Sc. 3); Miscellaneous provisions relating to interpretation (Sc. 4).
The Co-operatives have the following principles: they are voluntary organisations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination. Co-operatives controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. Members contribute equitably to the capital of their co-operative. At least part of the capital is usually the common property of the co-operative. They usually receive limited compensation (if any) on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: a) developing the co-operative, possibly by setting up reserves, part of which at least would be indivisible; b) benefiting members in proportion to their transactions with the co-operative; c) supporting other activities approved by the membership. Co-operatives are autonomous, self-help organisations controlled by their members. If they enter into agreements with other organisations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their co-operative autonomy. Co-operatives provide education and training for their members, elected representatives, managers and employees so they can contribute effectively to the development of their co-operatives. They inform the general public, particularly young people and opinion leaders, about the nature and benefits of co-operation. Co-operatives serve their members most effectively and strengthen the co-operative movement by working together through local, national, regional and international structures. While focusing on member needs, co-operatives work for the sustainable development of their communities through policies accepted by their members.