206Restrictions on powers

206 Restrictions on powers

206 Restrictions on powers

(1) A co-operative housing body must not contravene a restriction imposed on its powers, or in relation to its exercise of its powers, under this Act.

Maximum penalty—50 penalty units.

(2) Without limiting subsection (1), a co-operative housing body must not—

(a) accept as a member a person who is not eligible for membership under the body’s rules, or

(b) raise money on loan except as authorised and within the limits imposed by this Act or, subject to this Act, the body’s rules.

(3) If a co-operative housing body contravenes this section, any officer of the body who is in default commits an offence.

Maximum penalty—50 penalty units or imprisonment for 12 months, or both.