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Co-Operative Societies Act 2008 222. Offences with respect to reports 1. A person commits an offence, who makes or assists in making a report, return, notice or other document, required in this Act or the Regulations to be sent to the Registrar to any other person, that— a. contains an untrue statement of a material fact; or b. omits to state a material fact required in the report or necessary to make a statement contained in the report not misleading in the light of the circumstances in which it was made. 2. A person who commits an offence under subsection (1) is liable on summary conviction— a. in the case of an individual, to a fine of $1,000 or to imprisonment for a term of one year or both; b. in the case of a person other than an individual, to a fine of $10,000. 1. 2. 3. Where the person who commits an offence under subsection (1) is a body corporate and whether or not the body corporate has been prosecuted or convicted, any director or officer of the body corporate who knowingly authorises, permits or acquiesces in the offence is also guilty of an offence and liable on summary conviction to a fine of $1,000 or to imprisonment for a term of one year or both. 4. A person does not commit an offence under subsection (1) or (3) where the untrue statement or omission— a. was unknown to him; and (b) in the exercise of reasonable diligence, could not have been known to him.    |
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