(1) A special postal
ballot is a postal ballot that is conducted as required by this section.
(2) The ballot cannot
be held less than 21 days after notice of the ballot is given to members
so as to enable sufficient time for a meeting to discuss the proposal that is
the subject of the ballot to be convened and held (whether by the board or on
the requisition of members).
(3) The co-operative
must send to each member, along with any other material required to be sent in
connection with the postal ballot, a disclosure statement approved by the
Registrar and containing information about —
(a) the
financial position of the co-operative; and
(b) the
interests of the directors of the co-operative in the proposal with which the
ballot is concerned, including any interests of the directors in another
organisation concerned in the proposal; and
(c) any
compensation or consideration to be paid to officers or members of the
co-operative in connection with the proposal; and
(d) any
other matters as the Registrar directs.
(4) If required by the
Registrar, the disclosure statement is to be accompanied by a report, made by
an independent person approved by the Registrar, about any matters that the
Registrar directs.
(5) Sections 16
(except subsection (3)) and 29 apply to the approval of a disclosure
statement under this section with any necessary changes and in particular as
if any reference in section 16 to a formation meeting were a reference to
the notice of the special postal ballot.