sec.146Contravention of division

sec.146 Contravention of division

A director of a society must take reasonable steps to comply with or secure compliance with a provision of this division. Maximum penalty— 1600 penalty units or 2 years imprisonment, if the offence is committed with intent to deceive or defraud creditors of the society or creditors of any other person or for a fraudulent purpose; or 400 penalty units in any other case. In a proceeding against a person for an offence against subsection (1) arising out of the accounts of a society not complying with an applicable accounting standard, the onus of proving that the accounts would not, if prepared under the standard, have given a true and fair view of the matters required by this division to be dealt with in the accounts lies on that person. In a proceeding for an offence against subsection (1) arising out of an omission from the accounts of a society, it is a defence to prove that the information omitted was immaterial and did not affect the giving of a true and fair view of the matters required by this division to be dealt with in the accounts. Subsection (5) applies if, after the end of the period within which the accounts of a society or a report of the directors of a society is or are required under this division to be prepared, the registrar, by written notice to each of the directors, requires the directors to produce the accounts or report to a person stated in the notice on a stated date and at a stated place, and the directors fail to produce the accounts or report as required by the notice. In a proceeding for a failure to comply with the requirements of this division, proof of the failure to produce the accounts or report as required by the notice is evidence that the accounts or report were not prepared within the period. s 146 amd 1999 No. 27 s 76 sch 1 pt 2 (sec.146-ssec.1) A director of a society must take reasonable steps to comply with or secure compliance with a provision of this division. Maximum penalty— 1600 penalty units or 2 years imprisonment, if the offence is committed with intent to deceive or defraud creditors of the society or creditors of any other person or for a fraudulent purpose; or 400 penalty units in any other case. (sec.146-ssec.2) In a proceeding against a person for an offence against subsection (1) arising out of the accounts of a society not complying with an applicable accounting standard, the onus of proving that the accounts would not, if prepared under the standard, have given a true and fair view of the matters required by this division to be dealt with in the accounts lies on that person. (sec.146-ssec.3) In a proceeding for an offence against subsection (1) arising out of an omission from the accounts of a society, it is a defence to prove that the information omitted was immaterial and did not affect the giving of a true and fair view of the matters required by this division to be dealt with in the accounts. (sec.146-ssec.4) Subsection (5) applies if, after the end of the period within which the accounts of a society or a report of the directors of a society is or are required under this division to be prepared, the registrar, by written notice to each of the directors, requires the directors to produce the accounts or report to a person stated in the notice on a stated date and at a stated place, and the directors fail to produce the accounts or report as required by the notice. (sec.146-ssec.5) In a proceeding for a failure to comply with the requirements of this division, proof of the failure to produce the accounts or report as required by the notice is evidence that the accounts or report were not prepared within the period.