Cooperative Credit Associations Act

Marginal note:Offence

• 465 (1) Every person who, without reasonable cause, contravenes any provision of this Act or the regulations is guilty of an offence.

• Marginal note:False or misleading information

  (1.1) Every person who knowingly provides false or misleading information in relation to any matter under this Act or the regulations is guilty of an offence.

• Marginal note:Undue preference to creditor

  (2) Every director, officer or employee of an association who wilfully gives or concurs in giving to any creditor of the association any fraudulent, undue or unfair preference over other creditors, by giving security to the creditor, by changing the nature of the creditor’s claim or otherwise, is guilty of an offence.

• Marginal note:Failure to provide information

  (3) Every person who, without reasonable cause, refuses or fails to comply with a requirement made under paragraph 437(2)(b) is guilty of an offence.

• Marginal note:Use of name

  (4) Except to the extent permitted by the regulations, every person who uses the name of an association in a prospectus, offering memorandum, takeover bid circular, advertisement for a transaction related to securities or in any other document in connection with a transaction related to securities is guilty of an offence.