Cooperatives

Cooperatives can't trade their shares on the open market and are structured to mutually benefit all members, rather than individuals.

Each cooperative member has equal status and voting rights, and can own no more than 20% of shares.

Like other business structures, a cooperative must keep records of its meetings, finances and members.

As cooperatives operate under uniform national legislation, you can read more about cooperatives on the Consumer Affairs Victoria website and the NSW Government's Fair Trading website.

Distribute surplus funds

Cooperatives that make a profit can do either of the following:

• distribute surplus funds to its members - called a distributing cooperative
• use surplus funds to support its activities - for example, a community organisation - called a non-distributing cooperative.

To find out how to start or grow a cooperative, go to the Business Council of Co-operatives and Mutuals website.

It provides online resources, templates and support.

To register a cooperative in the Northern Territory (NT), most of its activities need to be conducted in the NT.

How to register

To register, follow these steps.

Step 1. Hold a formation meeting to pass the rules of the cooperative, and a disclosure statement if you are forming a distributing cooperative.

Step 2. Fill in the application to approve co-operative rules and formation disclosure statement.

Application to approve cooperative name, rules and formation disclosure statement DOCX (40.7 KB)
Application to approve cooperative name, rules and formation disclosure statement PDF (150.7 KB)

Step 3. Fill in the register a cooperative form.

Register a cooperative form DOCX (96.9 KB)
Register a cooperative form PDF (137.9 KB)

Step 4. Submit your forms and supporting documents to Licensing NT.

Your cooperatives may merge with another or others.

The new cooperative will be made up of all the members, assets, liabilities and undertakings of the cooperatives that want to merge.

It will also have a new name and new rules.

How to apply

To apply for a merger, follow these steps.

Step 1. Fill in a name and disclosure statement for mergers of cooperatives form.

Name and disclosure statement for mergers of cooperatives form DOCX (80.7 KB)
Name and disclosure statement for mergers of cooperatives form PDF (322.1 KB)

Step 2. Submit your form and fee to Licensing NT.

Your cooperative may take over all or part of another cooperative, or other cooperatives, by giving it all of the following:

• members, assets, liabilities and undertakings of all the cooperatives involved in the takeover
• the existing name and rules of the cooperative taking over the other/s.

A takeover is known as a 'transfer of engagements' under Cooperatives National Law.

How to apply

Follow these steps.

Step 1. Fill in a disclosure statement for transfer of engagements form.

Disclosure statement for transfer of engagements form DOCX (74.9 KB)
Disclosure statement for transfer of engagements form PDF (255.5 KB)

Step 2. Submit your form and fee to Licensing NT.

Cooperatives are administered by Licensing NT under the Cooperatives National Law.

For help winding up your cooperative, contact Licensing NT.

For information on fees, contact Licensing NT.

You can pay cooperative fees to the Territory Business Centre by phone, email, mail, fax or in person.

Cash, cheque or credit card are accepted.

Fees are exempt from GST.