Clause 67

A society shall not make a loan or allow any credit to any person other than a member, except that, with the written consent of the Registrar, a society may make loans to another society.

Except with the permission of the Registrar, a society shall not lend money on the security of any movable property other than produce or goods in which the society is authorised to deal.

The Minister may, by general or special order, prohibit or restrict the lending of money on a mortgage or charge of immovable property by any society or class of societies.

This section shall not apply to a society that is required to lend its funds or grant credit facilities in accordance with the provisions of the Banking Act (Cap. 182), the Insurance Act (Cap. 183) or any other written law that controls the lending activities or granting of credit facilities by such society.