203
CurrentDirectors’ remuneration
203 Directors’ remuneration
A director of a co-operative must not receive remuneration for services as a director other than—
(a)
fees, concessions and other benefits approved at a general meeting of the co-operative; and
(b)
director’s travelling and other expenses that the director properly incurs—
(i)
in attending meetings of the board of directors of the co-operative or any meetings of committees of directors of the co-operative; and
(ii)
in attending any general meetings of the co-operative.
Maximum penalty—$24,000 or imprisonment for 2 years, or both.
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