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Cooperative Credit Associations Act

Version of section 466 from 2003-01-01 to 2006-04-26:


Marginal note:Punishment

  •  (1) Every person who is guilty of an offence under any of subsections 465(1) to (4) is

    • (a) in the case of a natural person, liable

      • (i) on summary conviction, to a fine not exceeding $100,000 or to imprisonment for a term not exceeding twelve months, or to both, or

      • (ii) on conviction on indictment, to a fine not exceeding $500,000 or to imprisonment for a term not exceeding five years, or to both; and

    • (b) in the case of an entity, liable

      • (i) on summary conviction, to a fine not exceeding $500,000, or

      • (ii) on conviction on indictment, to a fine not exceeding $5,000,000.

  • Marginal note:Order to comply

    (2) Where a person has been convicted of an offence under this Act, the court may, in addition to any punishment it may otherwise impose, order the person to comply with the provisions of this Act or the regulations in respect of which the person was convicted.

  • Marginal note:Additional fine

    (3) Where a person has been convicted of an offence under this Act, the court may, where it is satisfied that as a result of the commission of the offence the convicted person acquired any monetary benefits or that monetary benefits accrued to the convicted person or to the spouse, common-law partner or other dependant of the convicted person, order the convicted person to pay, notwithstanding the maximum amount of any fine that may otherwise be imposed under this Act, an additional fine in an amount equal to the court’s estimation of the amount of those monetary benefits.

  • 1991, c. 48, s. 466
  • 1997, c. 15, s. 161
  • 2000, c. 12, s. 85

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