Western Australian Numbered Acts

CO-OPERATIVES ACT 2009 (NO. 24 OF 2009) - SECT 121

121 .         Share to be forfeited if membership cancelled

        (1)         If a co-operative has a share capital, the board of the co-operative must declare the shares of a member to be forfeited at the same time as the member’s membership is cancelled under section 120.

        (2)         The board’s declaration has the effect of forfeiting the shares concerned.

        (3)         Nothing in this section affects the operation of section 127.