485Fraud or misappropriation

485 Fraud or misappropriation

485 Fraud or misappropriation

(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 Law.

Maximum penalty—$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.

Maximum penalty (for subsection (2)): $6,000 or imprisonment for 6 months, or both.