s. s. 178 179 (c) if the rules provide for a rate to be payable that is higher than the rate applicable under paragraph (a) or (b), at that higher rate. S. 177(4) (4) The deposit, debenture or CCU must be repaid to amended by the member as soon as repayment would not, in No. 13/2008 s. 10(3). the opinion of the board, adversely affect the financial position of the co-operative. S. 177(5) (5) The deposit, debenture or CCU must in any case amended by be repaid within 10 years (or within any shorter No. 13/2008 period that the rules of the co-operative may s. 10(3). require) after the repurchase of the shares concerned. 178 Cancellation of shares A co-operative must cancel any share purchased by or forfeited to the co-operative in accordance with this Act or the rules of the co-operative. _______________ Division 1—Voting entitlements 179 Application of Part This Part applies to all voting whether at meetings or in ballots (including postal ballots). 180 Voting (1) The right to vote attaches to membership and not shareholding. (2) Except as provided in subsections (3) and (4), each member has only one vote at a meeting of the co-operative. (3) If its rules so provide, a member of an association or federation may have the number of votes up to 5 at a general meeting that is specified in the rules.
(c) if the rules provide for a rate to be payable that is higher than the rate applicable under paragraph (a) or (b), at that higher rate. S. 177(4) amended by No. 13/2008 s. 10(3). (4) The deposit, debenture or CCU must be repaid to the member as soon as repayment would not, in the opinion of the board, adversely affect the financial position of the co-operative. S. 177(5) amended by No. 13/2008 s. 10(3). (5) The deposit, debenture or CCU must in any case be repaid within 10 years (or within any shorter period that the rules of the co-operative may require) after the repurchase of the shares concerned. 178 Cancellation of shares s. 178 A co-operative must cancel any share purchased by or forfeited to the co-operative in accordance with this Act or the rules of the co-operative. _______________ Division 1—Voting entitlements 179 Application of Part s. 179 This Part applies to all voting whether at meetings or in ballots (including postal ballots). 180 Voting (1) The right to vote attaches to membership and not shareholding. (2) Except as provided in subsections (3) and (4), each member has only one vote at a meeting of the co-operative. (3) If its rules so provide, a member of an association or federation may have the number of votes up to 5 at a general meeting that is specified in the rules.
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