328Contravention by directors of provisions of this Part

#### 328 Contravention by directors of provisions of this Part 328 Contravention by directors of provisions of this Part (cf Corporations Act s 344) > > (1) A director of a co-operative contravenes this subsection if they fail to take all reasonable steps to comply with or to secure compliance with— > > > > > (a) section 272, 284 (1) or (2), 289, 290, 291, 292 or 293; or > > > > > (b) section 315 (1) of the Corporations Act as applying under section 285 (2) of this Law; or > > > > > (c) section 318 of the Corporations Act as applying under section 288 of this Law. > > > > Note— > > > > This subsection is a civil penalty provision (see section 554). > > > (2) A person commits an offence if they contravene subsection (1) and the contravention is dishonest. > > Maximum penalty—$200,000 or imprisonment for 5 years, or both.