Friendly Societies (Amendment) Act, 1977

Alteration of restrictions on making of loans out of separate loan funds and acceptance of deposits.

2.—The Minister may by regulations alter the restrictions set out in paragraphs (a) to (d) of section 46 of the Principal Act on—

(a) the making of loans out of a separate loan fund by registered societies or a specified class or specified classes of registered society to members, and

(b) the acceptance of deposits by registered societies or a specified class or specified classes of registered society from members,

and the regulations may provide for different such restrictions in relation to different classes of societies.