14 May    2009

 

Co-operatives WA News

 

This message has been issued by Co-operatives WA as part of its Member Services and Business Awareness programs.

 

 

MEDIA RELEASE

 

 

CO-OPS BILL GOES TO UPPER HOUSE

 

 

The Co-operatives Bill 2009 was passed by the Legislative Assembly on 12 May 2009 and has been referred to the Legislative Council.


“Co-operative enterprises in Western Australia have an estimated combined annual turnover in excess of $3.8 billion. Not only do they deliver a range of benefits to the many tens of thousands of people who are members of a co-operative, co-operatives businesses also provide direct employment for around 2,500 people”.


“At a national level, fourteen Co-operatives WA members control income streams that should see them make the Australia’s Top 100 Co-operatives, Mutuals and Credit Unions list being developed by Co-operatives Australia” said Co-operatives WA Chairman, Chris Enright.


Once the Bill passes into law, a 2 year transition period will apply for co-operatives incorporated under Companies (Co-operatives) Act 1943 to apply for incorporation under the new Act.


The transition period allows existing co-operatives some flexibility as to when it would be best for them to transfer into the new arrangements.


“I expect some co-operatives will transfer early during the 2 year period, whereas others may need more time to make the move. A series of workshops are therefore planned to provide training for co-operatives over the coming months to ensure the changeover is as seamless and as efficient as possible”, concluded Mr Enright.

 

(ENDS)

 

Released by:             Co-operatives WA on 14th May 2009

Authorised by:           Chris Enright

Contact:                     Co-operatives WA Tel: 0427 541 046

 

 

Background Information

Co-operatives businesses operate under the following seven key principles:

1.       Voluntary and open membership

2.       Democratic member control

3.       Member economic participation

4.       Autonomy and independence

5.       Education, training and information

6.       Co-operation among co-operatives

7.       Concern for their community

Co-operatives Australia, as the national body for State Co-operative Federations, is at an advanced stage of preparing its inaugural list of Australia’s Top 100 Co-operatives, Mutuals and Credit Unions to increase public awareness of the sector and the seven key principles of a co-operative business.