e) indique, motifs à l’appui, que la coopérative a conclu que les parts de placement étaient détenues contrairement à la restriction visée à l’alinéa c) de la définition de « restriction » , à l’article 39, ou que ses administrateurs ont estimé qu’elles l’étaient;
(e) state that the cooperative has concluded that the investment shares were owned, or that the directors determined that the investment shares may be owned, contrary to a constraint referred to in paragraph (c) of the definition “constraint” in section 39 and state the reason why the cooperative so concluded or the directors so determined, as the case may be; and
