s 439
In forceFraud or misappropriation
Part 15Supervision and protection of co‑operatives
Division 3Prevention of fraud etc.
439 Fraud or misappropriation
(1)
A person must not —
(a)
by false representation or imposition, obtain possession of any property of a co‑operative; or
(b)
having property of a co‑operative in his or her possession, withhold or misapply it or wilfully apply part of it to purposes other than purposes authorised by the rules of the co‑operative or this Act.
Penalty for this subsection: a fine of $6 000.
(2)
A person who is found guilty of an offence under subsection (1) must, if ordered to do so by the court, deliver up all the property and repay all money improperly applied.
Penalty for this subsection: a fine of $6 000.
[Section 439 amended: No. 7 of 2016 s. 200.]
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