s 218
In forceRestriction on directors of certain co‑operatives selling land to co‑operative
Part 9Management and administration of co‑operatives
Division 4Restrictions on directors and officers
218 Restriction on directors of certain co‑operatives selling land to co‑operative
A director of a co‑operative the primary activity of which is or includes the acquisition of land in order to settle or retain people on the land, must not sell land to the co‑operative except under a special resolution of the co‑operative.
Penalty: a fine of $24 000, or imprisonment for 2 years, or both.
[Section 218 amended: No. 7 of 2016 s. 69.]
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