(1) If a provision of
this Division is contravened, the co-operative concerned and any other person
involved in the contravention commits an offence.
(2) It is a defence to
a prosecution for an offence under subsection (1) if it is proved that
the contravention was due to the failure of a person, other than the
defendant, who is a director of the co-operative or a trustee for debenture
holders of the co-operative, to supply for the purposes of the explanatory
statement particulars of the person’s interests.