Western Australian Current Acts

CO-OPERATIVES ACT 2009 - SECT 140C

140C .         Due diligence defence

        (1)         A person is not liable under this Division in relation to a contravention of section 140A(1) because of a misleading or deceptive statement if the person proves they —

            (a)         made all inquiries (if any) that were reasonable in the circumstances; and

            (b)         after doing so, believed on reasonable grounds that the statement was not misleading or deceptive.

        (2)         A person is not liable under this Division in relation to a contravention of section 140A(1) because of an omission from a disclosure statement in relation to a particular matter or particular information if the person proves they —

            (a)         made all inquiries (if any) that were reasonable in the circumstances; and

            (b)         after doing so, believed on reasonable grounds that there was no omission from the statement in relation to that matter or information.

        (3)         A person is not liable under this Division in relation to a contravention of section 140A(2) because a disclosure statement is not current if the person proves they —

            (a)         made all inquiries (if any) that were reasonable in the circumstances; and

            (b)         after doing so, believed on reasonable grounds that the statement was current.

        [Section 140C inserted: No. 7 of 2016 s. 39.]