Section 72 - Co-operatives National Law Application Act 2013 - Contravention leading to right to recover for loss or damage (cf Corporations Act s 728)

72 Contravention leading to right to recover for loss or damage (cf Corporations Act s 728)

A co-operative contravenes this section if a disclosure statement is given to a person under section 70 and:

(a) there is:

(i) a misleading or deceptive statement in the disclosure statement or in any application form or document that accompanies the disclosure statement; or

(ii) an omission from the disclosure statement of material or information required to be contained in the statement by or under this Law;

and the misleading or deceptive statement or the omission is materially adverse from the point of view of the person to whom it is given; or

(b) the disclosure statement is not current (as referred to in section 70 (1)).

72Contravention leading to right to recover for loss or damage (cf Corporations Act s 728)

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