Restrictions on loans
67.—(1)  Subject to subsection (2), a credit society shall not make a loan or allow any credit to any person other than —
(a)a member of the credit society or his immediate family member;
(b)an employee of the credit society; or
(c)another society that is not a member of the credit society, with the written approval of the Registrar.
[23/2008]
(2)  For the purposes of subsection (1), a credit society may make loans or allow credit to persons who are not members of the credit society only to such extent and under such conditions as may be prescribed by its by-laws.
[23/2008]
(3)  In this section, “immediate family member” shall have such meaning as may be prescribed.
[23/2008]