Directors, officers and auditors
This information is designed as a guide only to the statutory and other responsibilities of directors and other persons empowered under the rules of a registered co-operative to give directions in regard to the business of the co-operative. These persons are defined as 'officers' in the legislation under which the co-operative is registered.
This information should not be read as a substitute for the relevant Acts and Regulations, which should be kept for reference at the co-operative's office.
Board of directors
A co-operative is managed and controlled by its board of directors subject to any restrictions imposed by rules. The powers and duties of the directors are regulated by both the rules of the co-operative and the provisions in the legislation.
The Act does not confer any specific powers on the manager, secretary, treasurer or employees of a co-operative. Under the Act it is the board of directors that is responsible for issuing instructions to those persons charged with the day to day management of the co-operative.
The duties and obligations of a director of a co-operative are similar to those of a director of a company. For further information concerning the duties and responsibilities of directors view the fact sheet Co-operative directors - a guide to duties and responsibilities.
Top of pageAudits and auditors
The financial statements of co-operatives must be audited each year. This audit must be conducted by a registered company auditor, unless a co-operative qualifies for an exemption from this requirement under a class order.
An auditor may not resign as auditor until the consent of the Registrar has been obtained in writing.
A co-operative that wishes to remove an auditor must follow the provisions set out in the Corporations Law as adopted by the Co-operatives Act 1992. Please contact the Financial Analysis Branch of the Registry of Co-operatives & Associations on 6333 1400 or freecall 1800 502 042 for further details.
Further information on documents and forms
Enquires regarding annual return arrangements and changes in directors can be made by telephoning the Registry's Financial Analysis Branch on telephone 6333 1400 or freecall 1800 502 042.
Enquiries regarding forms and fees for application for registration of alterations to rules and other documents may be made by telephoning the Registry's Rules section on telephone 6333 1400 or freecall 1800 502 042.