328Contravention 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 (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