Co-operative Societies Ordinance

(1)
A registered society shall not, except as provided in
section 33
,
                    make any loan to any person other than a
member:
Provided that, with the consent
                    of the Registrar, a registered society may make loans to another registered
                    society.
(2)
Except with the permission of the Registrar, a registered society shall not
                lend money on the security of any movable property other than produce or goods in
                which the society is authorized to deal.
(3)
The Chief Executive may, by general or special order, prohibit or restrict the
                lending of money on mortgage of any description of immovable property by any
                registered society.
(Amended
61 of 2000 s. 3
)