Clause 58

by inserting, immediately after the word “registered” in section 4A(6)(b), the words “as a credit society”; and

by deleting paragraph (a) of section 76.

by inserting the word “or” at the end of subsection (1)(a);

by deleting paragraph (b) of subsection (1);

by re-lettering paragraph (c) of subsection (1) as paragraph (b); and

by inserting, immediately after subsection (1), the following subsection:“(1A) Every co-operative society registered as a credit society under the Co-operative Societies Act (Cap. 62) to provide financial services shall, to the extent that such services amount to financing business, be exempt from section 3 in respect of such services.”.