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C-67.2 - Cooperatives Act
Section 224.7
Disposition versions
224.7. Rebates are calculated on the basis of the amount of work performed by a member or auxiliary member during the last fiscal year for the cooperative or for the business corporation or partnership in which the cooperative is a shareholder or partner.
The amount of work may be measured by the income of the member or auxiliary member, the number of hours of work or any other scale determined by the by-laws.
Notwithstanding the first paragraph, the cooperative may by by-law provide that rebates are calculated on the basis of the volume of work performed during a period covering not more than its last four fiscal years.
The rebate rate may vary according to the nature of the transactions in which the member or auxiliary member has participated.
224.7. Rebates are calculated on the basis of the amount of work performed by a member or auxiliary member during the last fiscal year for the cooperative or for the company or partnership in which the cooperative is a shareholder or partner.
The amount of work may be measured by the income of the member or auxiliary member, the number of hours of work or any other scale determined by the by-laws.
Notwithstanding the first paragraph, the cooperative may by by-law provide that rebates are calculated on the basis of the volume of work performed during a period covering not more than its last four fiscal years.
The rebate rate may vary according to the nature of the transactions in which the member or auxiliary member has participated.
