1998/99 Legislative Session: 3rd Session, 36th Parliament
FIRST READING


The following electronic version is for informational purposes only.
The printed version remains the official version.


HONOURABLE JAN PULLINGER
MINISTER OF HUMAN RESOURCES


BILL 98 -- 1999

COOPERATIVE ASSOCIATION ACT

 
Contents

    Section    
Part 1 -- Interpretation and Application
    1   Definitions and interpretation
    2   When status as reporting association ceases
    3   Corporate relationships
    4   Share ownership
    5   Application of Company Act to associations
    6   Application of Company Act to extraprovincial associations
    7   Rules for Company Act interpretation
    8   Cooperative basis
    9   Patronage returns

Part 2 -- Incorporation
  Division 1 -- Formation of Associations
    10   Formation of association
    11   Filing memorandum and rules
    12   Memorandum requirements
    13   Rules
    14   List of directors
    15   Registration documents
    16   Conclusiveness of certificate
    17   Incorporation from date of certificate
    18   Effect of memorandum and rules
    19   Power and capacity
    20   Restricted business and powers
    21   No constructive notice
  Division 2 -- Name
    22   Name reservation
    23   Form of name
    24   Registrar's discretion as to name
    25   Use of "cooperative" and its derivatives in business name restricted
    26   Publication of name
  Division 3 -- Registered Office
    27   Registered office
    28   Service of documents

Part 3 -- Membership and Voting
  Division 1 -- Membership
    29   Membership
    30   Membership share requirement
    31   Members under 19 years of age
    32   Government, first nations and corporations as members
    33   Withdrawal from membership
    34   Termination of membership in an association other than a housing cooperative
    35   Termination of membership in a housing cooperative
    36   Notices respecting the termination of members
    37   Appeal from termination of membership
    38   Requirement to redeem shares on membership withdrawal or termination
    39   Special resolution for readmission
  Division 2 -- Voting by Members
    40   Right to vote
    41   Special voting rights for classes of membership
    42   Joint members
    43   Proxy voting
    44   Voting choices for a member
    45   Corporate membership -- equitable voting
  Division 3 -- Delegate System of Voting
    46   Rules may provide for a delegate system
    47   Executive committee

Part 4 -- Finance
  Division 1 -- Share Capital Structure
    48   Capital -- membership and investment shares
    49   Investment shares -- provisions in memorandum and rules
    50   Consistency between memorandum and rules
    51   Consideration for membership and investment shares
    52   Issue of membership and investment shares
    53   Payments to joint shareholders
    54   Member share dividends or interest
    55   Liability of members and investment shareholders
    56   Association's lien on membership or investment shares
    57   Membership or investment share certificates
    58   Particulars of issue on investment share certificates
  Division 2 -- Voting by Investment Shareholders
    59   Investment shareholder voting rights and restrictions
    60   Separate resolution rights not affected
    61   One investment share, one vote
    62   Proxy voting by investment shareholders
    63   Members holding investment shares
  Division 3 -- Joint Investment Shares
    64   Joint investment shares
    65   Joint tenancy or tenancy in common
  Division 4 -- Share Capital Redemption and Reduction
    66   Redeeming shares, loans to members, paying dividends
    67   Reduction of share capital

Part 5 -- Association Alterations
  Division 1 -- Amendments to Memorandum and Rules
    68   Amendment of memorandum and rules
    69   Effective date of amendment
    70   No interference with class rights without consent
  Division 2 -- Substantial Disposition of Association's Undertaking
    71   No pledge or disposition of association's undertaking without consent

Part 6 -- Management
  Division 1 -- Directors Generally
    72   Directors
    73   First directors
    74   Election or appointment of directors
    75   Remuneration of directors
    76   Directors' responsibility to manage association
    77   Meetings of director
    78   Association to file notice as to directors
    79   Persons disqualified as directors
    80   Director ceasing to hold office
    81   Effective date of director's resignation
    82   Removal of director
    83   Notice of cessation
    84   Duties of directors
    85   Validity of acts of directors
  Division 2 -- Disclosure and Conflict of Interest Rules -- Directors and Officers
    86   Disclosable interest
    87   Director and officer to disclose interest
    88   Means of making disclosure
    89   Obligation to account for profits
    90   Approval
    91   Disclosure to shareholders
    92   Powers of court
    93   Court may make declaration
    94   Validity
    95   Disclosure of conflict of office or property
    96   Limitation of obligations of directors and officers
  Division 3 -- Indemnification of Directors and Payment of Expenses
    97   Definitions
    98   Indemnification and payment permitted
    99   Mandatory payment of expenses
    100   Authority to advance expenses
    101   Indemnification prohibited
    102   Court ordered indemnification
    103   Insurance
  Division 4 -- Officers
    104   Security by officers
    105   Duties of officers
    106   Validity of acts of officers

Part 7 -- Auditors
  Division 1 -- Appointment of Auditor
    107   Application of the Company Act
    108   Auditors
    109   Exception
    110   Qualifications
    111   Persons not qualified as auditors
    112   Remuneration
    113   Removal of auditor
  Division 2 -- Duties and Rights of Auditors
    114   Annual audit
    115   Negative audit report
    116   Audited statements of subsidiaries
    117   Auditor's attendance
    118   Procedure
    119   Amendment of financial statements and report
    120   Access to records
    121   Information as to foreign subsidiaries
    122   Auditor's attendance at meetings
    123   Qualified privilege

Part 8 -- Records
  Division 1 -- Registers
    124   Register of members and investment shareholders
    125   Register of directors
  Division 2 -- Records Filed With the Registrar
    126   Annual report
    127   Financial statements of reporting associations
  Division 3 -- General
    128   Records to be kept at registered office
    129   Records available to directors and former directors
    130   Examination of records
    131   Reasonable restrictions
    132   Copies
    133   Lists of members, investment shareholders and debentureholders
    134   Prohibition against improper use of list
    135   Association must give access to certain records
    136   Form of records
    137   Minutes
    138   Accounts at registered office
    139   Special resolutions to be filed
    140   Authentication
    141   Confidentiality
    142   Copies of memorandum and rules
  Division 4 -- Meetings
    143   General meetings
    144   Provision for 2 or more general meetings for same matters
    145   Semi-annual or other periodic meetings
    146   Notice of meetings to be given
    147   Manner of giving notice
    148   Place of meeting is British Columbia, or as registrar approves
    149   Voting, in person at meeting or other form of communication
    150   Holding of special general meetings
    151   Member requisitioned special general meetings
    152   Directors' decision whether to call requisitioned meeting
    153   Information for annual general meeting

Part 9 -- Court Proceedings and Investigations
    154   Interpretation
    155   Application of the Company Act
  Division 1 -- Court Proceedings
    156   Court proceedings on member's or investment shareholder's application
    157   Court's power to restrain breach or require compliance
  Division 2 -- Investigations
    158   Court may order investigation
    159   Association may require investigation

Part 10 -- Dissent
    160   Definitions
    161   Right to dissent
    162   Loss of right to dissent
    163   Notice of resolution
    164   Notice of dissent
    165   Association's response to dissent
    166   Application to court
    167   Prohibition against payment
    168   Dissenter entitled to return of shares and rights
    169   Disposition of shares

Part 11 -- Special Purpose Associations
  Division 1 -- Housing Cooperatives
    170   Application
    171   Right to possession terminated
    172   Court order of possession
    173   Special provisions on dissolution or winding up of a housing cooperative
  Division 2 -- Certain Producer Associations (Cooperative Marketing)
    174   Definitions
    175   Breach of contract
    176   Exception for fishing industry
    177   Termination of marketing contract after notice
    178   Requirement to respect cooperative marketing contract

Part 12 -- Extraprovincial Associations
    179   Application of Part
    180   Registration under this Act of extraprovincial corporations organized on a cooperative basis
    181   Registration as an extraprovincial corporation

Part 13 -- Continuation, Amalgamation
  Division 1 -- Continuation of Cooperative Associations into or out of British Columbia
    182   Definitions
    183   Continuation into British Columbia
    184   Instrument of continuation
    185   Certificate of continuation into British Columbia
    186   Consequences of continuation into British Columbia
    187   Continuation from British Columbia
    188   Abandonment of continuation application
    189   Filing requirements and registrar's certificate
    190   When Act ceases to apply to association continued out of British Columbia
  Division 2 -- Amalgamation of Associations
    191   Amalgamation
    192   Consequences of amalgamation
    193   Exceptions to amalgamation

Part 14 -- Dissolution, Winding Up, Restoration
    194   Application of the Company Act
    195   Cancellation of incorporation
    196   Dissolution and winding up
    197   Application for voluntary dissolution

Part 15 -- Offences and Penalties
    198   Offence Act
    199   Offences
    200   Misleading statements an offence
    201   Penalties
    202   Remedies preserved
    203   Limitation period

Part 16 -- Administration
  Division 1 -- Registrar
    204   Registrar may refuse to accept filing
    205   Document imaging
    206   Inspection of records at registrar's office
  Division 2 -- Appeal to Commercial Appeals Commission
    207   Appeal from registrar's decisions
  Division 3 -- General
    208   Arbitration of disputes
    209   Employment as inducement to invest
    210   Fees

Part 17 -- Regulations
    211   Power to make regulations

Part 18 -- Transitional Provisions
    212   Definitions
    213   Membership shares of pre-existing associations with one class of share
    214   Membership shares of pre-existing associations with 2 or more classes of shares
    215   Application of section 216 to certain pre-existing associations
    216   Notice of rights and restrictions
    217   Former Act associations
    218   Powers of associations incorporated before June 30, 1988
    219   Repeal
220-228   Consequential Amendments
    229   Commencement


[ NEXT PART . . . ]


[ Return to: Legislative Assembly Home Page ]

Copyright 1999: Queen's Printer, Victoria, British Columbia, Canada