69Fraudulent conduct in respect of association to which this Division applies

69 Fraudulent conduct in respect of association to which this Division applies

69 Fraudulent conduct in respect of association to which this Division applies

If—

(a) an association does any act (including the entering into of a contract or transaction) with intent to defraud any person or for any other fraudulent purpose, and

(b) the association is or becomes an association to which this Division applies,

any person who was knowingly concerned in the doing of the act with that intent or for that purpose is guilty of an offence.

Maximum penalty—100 penalty units or imprisonment for 2 years, or both.