48
CurrentEffect of fraud
Chapter 2Formation, powers and constitution of co-operatives
Part 2.2Legal capacity and powers
Division 3Persons having dealings with co-operatives
48 Effect of fraud
(1)
A person's entitlement under this Division to make an assumption is not affected merely by the fact that any person:
(a)
has acted or is acting fraudulently in relation to the dealing, acquisition or purported acquisition of title to property to which the assumption relates; or
(b)
has forged a document that appears to have been sealed on behalf of a co‑operative.
(2)
A person may not make an assumption if the person has actual knowledge of the fraudulent action or forgery referred to in subsection (1).
This Act’s bill:Explanatory statement
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