Co-operative Banks Act, 2007 (Act No. 40 of 2007)Chapter XI : Offences and Penalties80. General offences |
It is an offence for any co-operative bank, representative body, support organisation or other person to—
| (a) | fail to comply with a directive under this Act; |
| (b) | contravene or fail to comply with section 3(2), 10, 21(1) or 23; |
[Section 80(b) substituted by section 26 of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 1 June 2023 per (b)(i) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]
| (c) | submit a document or information or make a statement under this Act that to the knowledge of such person is untrue or misleading. |