Singapore legislation
Regulation 3
of Co-operative Societies (Exemption under Section 97) (No. 3) Order 2011
Regulation 3
Exemption from section 16A of Act
Amended byS 202/2016 wef 04/05/2016
Subregulation 1
Subject to sub-paragraph (2), Mercatus Co-operative Limited is exempted from section 16A of the Act.
Subregulation 2
Amended byS 202/2016 wef 04/05/2016
Mercatus Co-operative Limited must not provide any financial service other than the granting of loans to and the provision of security or guarantee in respect of the obligations of —
(a)
any of its associated companies, joint venture companies or subsidiary companies; or
(b)
any co-operative society in which Mercatus Co-operative Limited holds at least 20% of the total number of shares.