sec.242Effect of fraud

sec.242 Effect of fraud

Section 241 operates— to entitle a person to make the assumptions mentioned in section 241 (3) in relation to dealings with a society; or to entitle a person to make the assumptions mentioned in section 241 (3) in relation to an acquisition or purported acquisition (whether direct or indirect) of title to property from a society; even if a person mentioned in section 241 (3) (b) , (c) , or (e) or an officer, agent or employee of the society mentioned in section 241 (3) (d) or (f) — has acted or is acting fraudulently in relation to the dealings, or in relation to the acquisition or purported acquisition of title to property from the society; or has forged a document that appears to have been sealed or behalf of the society. However, subsection (1) does not operate to entitle a person to make the assumptions if the person mentioned in subsection (1) (a) or (b) of this section has actual knowledge that the person mentioned in section 241 (3) (b) , (c) or (e) , or the officer, agent or employee of the society mentioned in section 241 (3) (d) or (f) , has acted or is acting fraudulently, or has forged a document, as mentioned in subsection (1) (c) or (d) of this section. (sec.242-ssec.1) Section 241 operates— to entitle a person to make the assumptions mentioned in section 241 (3) in relation to dealings with a society; or to entitle a person to make the assumptions mentioned in section 241 (3) in relation to an acquisition or purported acquisition (whether direct or indirect) of title to property from a society; even if a person mentioned in section 241 (3) (b) , (c) , or (e) or an officer, agent or employee of the society mentioned in section 241 (3) (d) or (f) — has acted or is acting fraudulently in relation to the dealings, or in relation to the acquisition or purported acquisition of title to property from the society; or has forged a document that appears to have been sealed or behalf of the society. (sec.242-ssec.2) However, subsection (1) does not operate to entitle a person to make the assumptions if the person mentioned in subsection (1) (a) or (b) of this section has actual knowledge that the person mentioned in section 241 (3) (b) , (c) or (e) , or the officer, agent or employee of the society mentioned in section 241 (3) (d) or (f) , has acted or is acting fraudulently, or has forged a document, as mentioned in subsection (1) (c) or (d) of this section.

• (a) to entitle a person to make the assumptions mentioned in section 241 (3) in relation to dealings with a society; or
• (b) to entitle a person to make the assumptions mentioned in section 241 (3) in relation to an acquisition or purported acquisition (whether direct or indirect) of title to property from a society;
• (c) has acted or is acting fraudulently in relation to the dealings, or in relation to the acquisition or purported acquisition of title to property from the society; or