Rules Governing Hamilton Park

Hamilton Park Estate is a co-operative.

A co-operative is a democratic organisation, owned and controlled by its members for a common benefit. Co-operatives are traditionally based on values of self-help, self-responsibility, equality and solidarity.

Voting rights

Unlike private companies, co-operatives do not have a limit on membership numbers. Their ‘one member, one vote’ system also differs from public companies, where voting rights are linked to share ownership.

In a co-operative:

• all members have equal status and voting rights
• no member can hold more than 20 per cent of shares
• all active members can nominate themselves as directors and elect directors
• capital is used for the group’s common interest.

Regulation

Co-operatives are administered under the Co-operatives National Law, applied in Victoria by the Co-operatives National Law Application Act 2013. The Co-operatives National Law applies in Victoria, New South Wales, South Australia, Tasmania and the Northern Territory. The Australian Capital Territory, Queensland and Western Australia are yet to adopt the legislation.

Public register

Consumer Affairs keeps a public register of Victorian co-operatives, authorise their registration and enforce the Co-operatives National Law in Victoria.

What can a co-operative do?

Co-operatives can be involved in a variety of social and commercial activities. A co-operative may carry out any activity defined within its rules.

You can download and read the most up to date version of the Rules for Hamilton Park Co-operative Limited as at 24th October 2015 by clicking on the button below.