Co-operatives National Law Bill 2020

Introduced: 4/2/2020By: Hon Y D'Ath MPStatus: PASSED

Bill Story

The journey of this bill through Parliament, including debate and recorded votes.

Introduced4 Feb 2020View Hansard
First Reading4 Feb 2020View Hansard
Committee4 Feb 2020View Hansard

Referred to Legal Affairs and Community Safety Committee

Second Reading16 June 2020View Hansard
10 members spoke10 support
11.31 amHon. YM D'ATHSupports

Introduced the bill to adopt nationally harmonised cooperatives legislation, reducing regulatory burden and costs for Queensland's 165 cooperatives.

Both reports make a single recommendation: that the respective bills be passed. The government welcomes these recommendations.2020-06-16View Hansard
11.44 amMr JANETZKISupports

Acknowledged the efficiency measures in the bill and stated the opposition would not oppose it.

The opposition will not be opposing these two bills because, as the Attorney-General has rightly said, there are important efficiency measures contained in them, whether it be financial reporting, the cutting of red tape or the removal of duplication.2020-06-16View Hansard
12.12 pmMr RUSSOSupports

Supported the bill to adopt nationally harmonised cooperatives legislation, citing benefits of reduced reporting burden and automatic mutual recognition across jurisdictions.

Legislation is the only way to achieve the objective of modernising and improving the regulatory framework for cooperatives, principally through nationally harmonised cooperatives laws.2020-06-16View Hansard
12.18 pmMr LISTERSupports

Acknowledged the bill is necessary to align Queensland with the Commonwealth and other states, supporting mutuals and cooperatives like the Killarney Co-op.

I acknowledge that the bill is a necessary action in the machinery of government since we need to align ourselves with the Commonwealth and the other states and territories and we need to have a system that is up to date.2020-06-16View Hansard
12.28 pmMrs McMAHONSupports

Supported Queensland joining the cooperatives national law, criticising the Newman government for previously withdrawing from the national agreement.

Now we consider the benefits of Queensland co-ops participating in the national agreement under the cooperatives national law, and these include the reduction of reporting for small cooperatives.2020-06-16View Hansard
12.34 pmMr McDONALDSupports

Supported the bill to modernise the regulatory framework for cooperatives and reduce their regulatory burden.

The Co-operatives National Law Bill will modernise and improve the regulatory framework for the formation, registration and management of cooperatives by repealing the Cooperatives Act 1997 and adopting the nationally harmonised cooperatives legislation.2020-06-16View Hansard
12.48 pmMr POWELLSupports

Strongly supported the cooperatives bill as positive red-tape reduction for cooperatives in his electorate including Maleny Credit Union, Maple Street Co-op and agricultural cooperatives.

It is fantastic to see this positive red-tape-reduction work in this bill as it pertains to cooperatives. I and the LNP will be supporting it.2020-06-16View Hansard
4.04 pmMr MADDENSupports

Supported the bill to repeal the Cooperatives Act 1997 and adopt the cooperatives national law for Queensland's 165 cooperatives.

The main objective of the bill is to repeal the Cooperatives Act 1997 and, in its place, apply the Co-operatives National Law Bill 2020 and its regulations as the law of Queensland.2020-06-16View Hansard
4.14 pmHon. SM FENTIMANSupports

As Minister for Employment and Small Business, spoke in support of the bill to modernise the regulatory framework for cooperatives and reduce costs, particularly for small co-ops supporting vulnerable Queenslanders.

Adopting this national regulatory framework for cooperatives will help support the businesses and jobs that use this model.2020-06-16View Hansard
4.26 pmMs BOYDSupports

Spoke enthusiastically in support of cooperatives as her favourite business model, highlighting Queensland's history and the benefits of the reforms.

It may just be that I am a socialist at heart, but cooperatives are one of my favourite business models of choice.2020-06-16View Hansard
Third Reading16 June 2020View Hansard
Became Act 18 of 202022 June 2020
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Plain English Summary

Overview

This bill adopts the national Co-operatives National Law in Queensland, replacing the Cooperatives Act 1997. It brings Queensland into line with all other states and territories by applying a consistent regulatory framework for co-operatives, reducing red tape for businesses operating across state borders.

Who it affects

Queensland co-operatives benefit from simplified rules and automatic recognition across Australia. Small co-operatives face less compliance burden. Directors have clearer duties aligned with modern corporate governance standards.

Key changes

  • Queensland's Cooperatives Act 1997 repealed and replaced with nationally-harmonised Co-operatives National Law
  • Automatic mutual recognition of co-operatives across all Australian states and territories
  • Simplified financial reporting and auditing requirements for small co-operatives
  • Updated directors' and officers' duties to modern corporate governance standards
  • New fundraising provisions for co-operative capital units
  • Existing co-operatives transition seamlessly with their current registration and rules preserved