SA Parliament recognise need for national co-operative law

21 May 2015

The BCCM welcomes the commencement of the Co-operatives National Law (South Australia) Act 2013 in the state tomorrow. This follows similar action recently by the Tasmanian and Northern Territory Parliaments and by the NSW and Victorian Parliaments last year. The Co-operatives National Law seeks to harmonise laws regulating co-operatives nationally, leading to reduced regulatory costs and simplifying financial reporting and auditing requirements.

Commenting on the development, Melina Morrison, BCCM CEO, commended the South Australian Parliament for enacting the legislation in their jurisdiction.

“South Australia is a great co-operative state. The Barossa Co-op in Nuriootpa is an excellent example of how co-operatives can grow and benefit a local community with a recently announced $30 million retail upgrade investment, generating employment for over 100 people during construction and over 200 jobs ongoing.”

The BCCM urges all states and territories to enact this legislation to help co-operative businesses thrive in state economies.