Co-operative Societies Act 1979 · 2020 Revised Edition · Part 9 · Miscellaneous
100B. Fraudulently inducing persons to invest or deposit money with society
Feedback & supportWhoever, being an officer or agent of any society, by any deceitful means or false promise and with intent to defraud, causes or procures any money to be paid to or deposited with that society or himself or herself or any other person for the use or benefit or on account of that society shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $15,000 or to imprisonment for a term not exceeding 5 years or to both.
officer
“officer” includes a chairperson, vice‑chairperson, director, secretary, assistant secretary, treasurer, assistant treasurer, member of committee of management, employee, internal auditor, liquidator or other person empowered under this Act, the Rules or the by-laws, to give directives in regard to the business of a society or to supervise the business;