Offences

It shall be an offence under this Act, if-- a) any member of a society transfers any property or interest in property in contravention of sub-section (2) of section 49 or any person knowingly acquires, or abets in the acquisition of such property ; or (b) any employer or any director, manager, secretary or other officer or agent acting on behalf of such employer, without sufficient cause, fails to comply with sub-section (2) of section 51 ; or (c) a committee of a society or an officer or member thereof fails to invest funds of such society in the manner required by section 62 ; or (d) any person, collecting share money for a society in formation, does not within a reasonable period deposit the same in the co-operative bank, or postal savings bank ; or (e) any person, collecting the share money for a society in formation, makes use of the funds so raised for conducting any business or trading in the name of a society to be registered or otherwise;or