Closing a co-operative 

There are many reasons why the members of a co-operative may choose to close. It may simply be that the members have moved in a new direction or the reason for establishing the co-operative no longer exists.

Sometimes, economic conditions or changes in business circumstances will lead to closure. In some cases, a co-operative may be experiencing cash flow issues, in more serious situations a co-operative may find that it cannot pay its debts as and when they fall due.

As there are legal and financial implications for closing a co-operative, it is important that members of the co-operative obtain their own independent advice about how to proceed.

Generally, there are three circumstances under which a co-operative may close:

1. voluntary winding up by members
2. voluntary deregistration by members
3. winding up due to insolvency (either commenced by the directors, creditors or the court).

Procedures to wind up or deregister a co-operative are available from Registry Services to assist in this process.

Further information

For further information please contact:

Registry Services
Po Box 22
154 Russell Street
Bathurst  NSW  2795
Tel: 6333 1400
Freecall: 1800 502 042
Fax: 6333 1444
Email:  registryinquiries@services.nsw.gov.au

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