Hold a formation meeting

The formation meeting is an important step in registering a cooperative. It’s a chance for your members to vote upon the documents that will govern how you run the cooperative.

Do not hold this meeting until after we approve:

  • your rules, including any provisions for active membership
  • the disclosure statement (if you’re a trading cooperative).

During the meeting

You should observe the following procedures at your formation meeting. You will need to include them in your agenda, and in this order.

1. Identify your members

Anyone who intends to become a member must put their names and signatures on the list of voting members. This is an official document—we will send it to you as part of your application pack. Only people who sign this form have the right to vote at the meeting.

2. Read the disclosure statement

If you’re a trading cooperative, you must present your disclosure statement to the members.

3. Register your members

Your proposed members must formalise their membership by filling out an application form. You can choose the content that you put into the form.

All proposed members will need to fill in an application.

4. Pass the approved rules

You will need to present the approved rules for the members to vote upon. The members must pass the rules by a two-third majority vote before we can register them.

If the members vote to change the rules in the formation meeting, you must re-submit them to us for approval. Once we approve the new rules, you will need to call another formation meeting.

The new meeting must be at least 28 days after you re-submit the rules.

5. Elect the directors

You must follow your approved rules for electing your directors. Once you’ve elected them, you will need to complete a statement to give us their details.

This statement is an official document. We will send it to you as part of your application pack.

6. Appoint someone to finalise the application

You must appoint somebody to complete the final tasks to register your application. In most cases, this will be one of your directors. They will be responsible for:
  • communicating with us
  • filling out and lodging your forms.

After the meeting

Once you’ve had the formation meeting, you must complete a few more duties before we can register you.

1. Appoint an auditor

Within 1 month of the registration of the cooperative, you must appoint an auditor to check your financial records.

If you want to be an auditor, contact us to find out:

  • what current qualifications you need
  • how to apply.

2. Send your application

Your appointed person has 2 months to send us the registration documents.

To register your cooperative, we must receive:

  • your registration form
  • the list of members’ names and signatures from the formation meeting
  • the statement of your directors’ details
  • 2 copies of your rules, each with a signed covering statement from the chairperson and secretary
  • the disclosure statement (if you need it), with a signed covering statement from the chairperson and secretary
  • the fee.