Co-operative Housing Societies (Amendment) Regulations 2006

i Co-operative Housing Societies (Amendment) Regulations 2006 S.R. No. 112/2006 TABLE OF PROVISIONS Regulation Page 1. Objective 1 2. Authorising provision 1 3. Maximum amount of fees to officers other than directors 1 ═══════════════ ENDNOTES 3 -- 1 of 4 -- 1 STATUTORY RULES 2006 S.R. No. 112/2006 Co-operative Housing Societies Act 1958 Co-operative Housing Societies (Amendment) Regulations 2006 The Governor in Council makes the following Regulations: Dated: 22 August 2006 Responsible Minister: JOHN BRUMBY Treasurer RUTH LEACH Clerk of the Executive Council 1. Objective The objective of these Regulations is to amend the Co-operative Housing Societies Regulations 2005 to provide a new method for calculating the average total assets of a society. 2. Authorising provision These Regulations are made under section 98 of the Co-operative Housing Societies Act 1958. 3. Maximum amount of fees to officers other than directors (1) In regulation 19(5) of the Co-operative Housing Societies Regulations 20051 , for "At" substitute "Subject to sub-regulation (6A), at". -- 2 of 4 -- S.R. No. 112/2006 Co-operative Housing Societies (Amendment) Regulations 2006 2 (2) After regulation 19(6) of the Co-operative Housing Societies Regulations 2005 insert— '(6A) The "average total assets" of a society that continues in operation after 1 July 2006 are the sum of the society's total assets less paid up share capital as reported in the audited balance sheet of the society at the end of the 2005–2006 financial year for that society.'. ═══════════════ r. 3 -- 3 of 4 -- S.R. No. 112/2006 Co-operative Housing Societies (Amendment) Regulations 2006 3 ENDNOTES 1 Reg. 3(1): S.R. No. 3/2005. Endnotes -- 4 of 4 --