This is the culmination of three years’ work by Mutuo together with the Australian Business Council of Co-operatives and Mutuals (BCCM) and an unprecedented collaboration between Australian businesses.
We have worked closely with the BCCM for five years, helping to develop a strong narrative around the importance of co-operatives and mutuals in Australia. We strived to gain support from the major political parties and built a consensus in favour of a legal change for our sector, to help it grow and flourish.
The new law represents a major step forward for Australia, delivering new landmark legislation and the first positive change to the Corporations Act for mutuals in 18 years.
Mutuo Managing Partner Peter Hunt said: “The BCCM story is inspiring. In just a few years, the way mutuals are seen and understood by the government and opposition has been transformed. The Australian sector has shown how a well-executed strategy can deliver real improvements to the business environment for co-operatives and mutuals.”