2.1
CurrentMaximum fine fixed by rules of co-operative (section 56 (7))
Chapter 2Formation, powers and constitution of co-operatives
2.1 Maximum fine fixed by rules of co-operative (section 56 (7))
For the purposes of section 56
(7)
of the Law:
(a)
the amount of $1,000 is prescribed as the maximum fine that can be fixed by the rules of a co-operative, unless the co-operative is one whose primary activity is comprised of one or more charitable purposes; and
(b)
the amount of $500 is prescribed as the maximum fine that can be fixed by the rules of a co-operative whose primary activity is comprised of one or more charitable purposes.
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