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.]