In exercise of the powers conferred by section 97 of the Co-operative Societies Act, the Minister for Community Development hereby exempts the NTUC Thrift and Loan Co-operative Limited from —
(a)section 39 (1) (a) (ii) of the Act so as to enable a member of the Singapore Maritime Officers Union or the Singapore Organisation of Seamen who is not a citizen of Singapore or resident in Singapore to qualify for individual membership, subject to the conditions set out in the Schedule; and
(b)section 39 (1) (b) of the Act so as to enable the Singapore Labour Foundation and the NTUC Club to qualify for institutional membership.