48Effect of fraud

48 Effect of fraud (1) A person's entitlement under this Division to make an assumption is not affected merely by the fact that any person: (a) has acted or is acting fraudulently in relation to the dealing, acquisition or purported acquisition of title to property to which the assumption relates; or (b) has forged a document that appears to have been sealed on behalf of a co-operative. (2) A person may not make an assumption if the person has actual knowledge of the fraudulent action or forgery referred to in Division 4 Execution of documents