A new Cooperatives National Law is being proposed to create a uniform system of governance for co-operatives across States and Territories.

  The proposed Cooperatives National Law aims to:

• Provide a nationally consistent replacement for the separate legislation currently regulating co-operatives in States and Territories.
• Provide a method for efficiently applying and maintaining consistent co-operatives legislation – including Regulations.
• Make it easier to understand the interactions between co-operatives legislation and the Corporations Act 2001.
• Ensure that provisions of the Corporations Act 2001, which are relevant to co-operatives, are applied consistently across State and Territories.
• Simplify financial and auditing requirements for small co-operatives.
• Reduce restrictions on co-operatives operating across borders.
• Introduce nationally consistent provisions for the supervision of co-operatives.

 Further information on the Cooperatives National Law is available at

www.fairtrading.nsw.gov.au  in the Co-operatives and Association section.