New South Wales Consolidated Regulations

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CO-OPERATIVES NATIONAL REGULATIONS - REG 3.19

Distribution of surplus or reserves to members--limited dividend (section 357(5))

3.19 Distribution of surplus or reserves to members--limited dividend (section 357(5))

For the purposes of the definition of
"limited dividend" in section 357 (5) of the Law, the prescribed amount is 10% more than the maximum rate of the nominal value of interest payable on a Commonwealth Bank 5 year term deposit of $100,000 offered during the relevant financial year.



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