Co-operatives National Law in Queensland webinar

Together with BAL Lawyers, BCCM is hosting this webinar on Co-operatives National Law for Queensland co-operatives.

Make sure your co-op is ready to make the most of the national co-operatives legislation when it commences in Queensland!

Not to be missed, this seminar will answer commonly asked questions such as:

• What are the key changes from the Cooperatives Act 1997 to CNL?
• How do we change our co-op rules to benefit from these changes?
• A one hour seminar ideal for legal practitioners, established co-operatives, and groups looking to form co-operative businesses.

The Co-operatives National Law (CNL) is harmonised co-operatives legislation, which has been progressively introduced by all states and territories since 2012.

With adoption in Queensland, Queensland-based co-operatives can now take advantage of:

• Ability to trade across borders with no regulatory barriers
• New small co-ops category for financial reporting requirements
• Ability to use Co-operative Capital Units for capital raising
• Empower your co-operative or your co-operative clients to reap the benefits of the modernised CNL.

We hope to see you there!

Total run time: 1 hour, including time for questions.

Suitable for: co-operative directors, secretaries and managers; lawyers, accountants and other professional business advisors; anyone with an interest in starting or converting to a co-operative.

Topics include:

• A brief overview of CNL
  • Key changes for Queensland co-ops as a result of CNL
  • Cross-border trading
  • Directors duties
  • Definition of a small co-op
  • Co-operative Capital Units
  • Use of technology for governance processes
• How to take advantage of the changes
  • When are rule changes required?
  • Tips for reviewing and changing your rules

Event Details

Date: Wednesday, 12 August 2020

Time: 12.30 – 1.30 PM (AEST)

Cost: Free for BCCM members / $55 including GST for Non-BCCM members

Program at a Glance

Welcome
Melina Morrison, CEO, BCCM

Session One: Operating a Co-operative
Katie Innes, BAL Lawyers

The first session will address the fundamentals for compliance in the operation of a co-operative.

Regular meetings and adequate disclosure are fundamental to members and directors staying informed about the co-operative and the progress towards the co-operative’s goals. In this session you will learn how to call and hold meetings, and the legislative requirements for holding meetings. The rules of the co-operative govern its operation so we will address what decisions of the co-operative require approval of a special resolution, a postal ballot, or a special postal ballot, and how and when those changes will take effect.

All co-operative members must be active members, but there are specific responsibilities imposed on directors for the day to day management of the co-operative so the appointment of the directors can be one of the most powerful decisions that members will make. We will look at the appointment and removal process for directors.

We will also look at the requirements for terminating membership, particularly due to inactive or recalcitrant members and issues of liability.

Session Two: Governance of the Co-operative
Mark Love, BAL Lawyers

The second session will be focused on the rights and responsibilities of the members and the directors; both have a different yet equally important role to play in the ongoing governance of the co-operative.

We will look at the rights, responsibilities and the liabilities of members, including how and when they can vote, what members must do to maintain their active membership, and the financial risks that membership can bring.

We will also look at the role of the director, the scope of directors duties under the Co-operatives National Law, and their liability to and on behalf of the co-operative.

We will also discuss the application of the Co-operative and Mutual Enterprise Governance Principles recently published by the BCCM.

Session Three: Raising Funds
Mark Love, BAL Lawyers

The third session will be focused on fund raising mechanisms for the ongoing operation of the co-operative including the use of shares, debentures, and co-operative capital units.

We will look at the defining characteristics of each and when each one is appropriate for the co-operative. Critical in this will be interaction of the Co-operatives National Law and Chapter 6D of the Corporations Act. We will also touch on the process for issuing co-operative securities and the rights and liabilities attaching to those, as well as issues of “influence”.

Session Four: Winding Up
Katie Innes, BAL Lawyers

To wind up the day we will address the process for winding up a co-operative. We will look at when the members can voluntarily wind up the co-operative and the process they must go through to do so. We will also look at the situations in which the Registrar can wind up the co-operative under the Co-operatives National Law. And finally, issues of residual liability for membership.

Closing Remarks
Melina Morrison, CEO, BCCM