2Maximum fine fixed by rules of co-operative (section 56(7))

2 Maximum fine fixed by rules of co-operative (section 56(7))

2.1 Maximum fine fixed by rules of co-operative (section 56(7))

For the purposes of section 56(7) of the Law:

(a) the amount of $1,000 is prescribed as the maximum fine that can be fixed by the rules of a co-operative, unless the co-operative is one whose primary activity is comprised of one or more charitable purposes; and

(b) the amount of $500 is prescribed as the maximum fine that can be fixed by the rules of a co-operative whose primary activity is comprised of one or more charitable purposes.