Contravention leading to right to recover loss or damage
140A Contravention leading to right to recover loss or damage
A co‑operative contravenes this subsection if —
a disclosure statement is given to a person under section 137; and
there is —
a misleading or deceptive statement in the disclosure statement or in any application form or document that accompanies the disclosure statement; or
an omission from the disclosure statement of material or information that is required to be contained in the statement by or under this Act;
and
the misleading or deceptive statement or the omission is materially adverse from the point of view of the person to whom it is given.
A co‑operative contravenes this subsection if —
a disclosure statement is given to a person under section 137; and
the disclosure statement is not current (as referred to in section 137A(4)).
[Section 140A inserted: No. 7 of 2016 s. 39.]
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