(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.]