Australian Capital Territory Repealed Acts Australian Capital Territory Repealed ActsThis legislation has been repealed.
(1) A society that contravenes any restriction imposed by this Act on its power to carry on business, and, in particular, that raises money, whether on loan or by negotiating prescribed bills of exchange, or receives deposits except as authorised by its rules and within the prescribed limits, shall commit an offence.
Maximum penalty: 50 penalty units.
(2) If a society commits an offence against subsection (1), every director and officer of the society who knowingly and wilfully authorises or permits the contravention shall be guilty of an offence.
Maximum penalty: 50 penalty units.