The purposes of this Act are: a) to set out the law applicable to the business endeavours of persons who have associated themselves in a democratic manner to carry on a common purpose; and b) to advance the cause of uniformity of cooperative business law in Canada. In particular, the Act makes provisions for the registration and organization of cooperative societies, defines their powers, privileges and duties and provides for their internal organization, management and finances, and provides for other matters relating to the functioning of cooperative societies and cooperative development. The text consists of 386 sections divided into24 Parts as follows: Interpretation and application (1); Incorporation, structure and organisation (2); Capacity and powers (3); Registered office and records (4); Membership (5); Corporate governance (6); Directors and officers (7); Capital structure (8); Proxies (9); Insider trading (10); Compulsory acquisition (11); Security certificates, registers and transfers (12); Financial disclosure (13); Trust indentures (14); Receivers, receiver-managers and sequestrator (15); Fundamental changes (16); Liquidation and dissolution (17); Investigations (18); Apportioning awards of damages (18.1); Remedies, offences and punishment (19); Additional provisions respecting non-profit housing cooperatives (20); Additional provisions respecting worker cooperatives (21); Documents in electronic or other form (21.1); General (22); Continuance (23); Consequential amendments, repeal and coming into force (24).
Canada · 1998-03-31