{\rtf1\adeflang1025\ansi\ansicpg1252\uc1\adeff39\deff0\stshfdbch0\stshfloch0\stshfhich0\stshfbi0\deflang1033\deflangfe1033\themelang1033\themelangfe0\themelangcs0{\fonttbl{\f0\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\f1\fbidi \fswiss\fcharset0\fprq2{\*\panose 020b0604020202020204}Arial;}
{\f1\fbidi \fswiss\fcharset0\fprq2{\*\panose 020b0604020202020204}Arial;}{\f39\fbidi \froman\fcharset0\fprq2{\*\panose 02040604050505020304}NewCenturySchlbk{\*\falt Century Schoolbook};}
{\f40\fbidi \froman\fcharset0\fprq2{\*\panose 02040604050505020304}Century Schoolbook;}{\flomajor\f31500\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}
{\fdbmajor\f31501\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\fhimajor\f31502\fbidi \fswiss\fcharset0\fprq2{\*\panose 020f0302020204030204}Calibri Light;}
{\fbimajor\f31503\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\flominor\f31504\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}
{\fdbminor\f31505\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\fhiminor\f31506\fbidi \fswiss\fcharset0\fprq2{\*\panose 020f0502020204030204}Calibri;}
{\fbiminor\f31507\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\f298\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}{\f299\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}
{\f301\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}{\f302\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}{\f303\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}{\f304\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}
{\f305\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}{\f306\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}{\f308\fbidi \fswiss\fcharset238\fprq2 Arial CE;}{\f309\fbidi \fswiss\fcharset204\fprq2 Arial Cyr;}
{\f311\fbidi \fswiss\fcharset161\fprq2 Arial Greek;}{\f312\fbidi \fswiss\fcharset162\fprq2 Arial Tur;}{\f313\fbidi \fswiss\fcharset177\fprq2 Arial (Hebrew);}{\f314\fbidi \fswiss\fcharset178\fprq2 Arial (Arabic);}
{\f315\fbidi \fswiss\fcharset186\fprq2 Arial Baltic;}{\f316\fbidi \fswiss\fcharset163\fprq2 Arial (Vietnamese);}{\f308\fbidi \fswiss\fcharset238\fprq2 Arial CE;}{\f309\fbidi \fswiss\fcharset204\fprq2 Arial Cyr;}
{\f311\fbidi \fswiss\fcharset161\fprq2 Arial Greek;}{\f312\fbidi \fswiss\fcharset162\fprq2 Arial Tur;}{\f313\fbidi \fswiss\fcharset177\fprq2 Arial (Hebrew);}{\f314\fbidi \fswiss\fcharset178\fprq2 Arial (Arabic);}
{\f315\fbidi \fswiss\fcharset186\fprq2 Arial Baltic;}{\f316\fbidi \fswiss\fcharset163\fprq2 Arial (Vietnamese);}{\f698\fbidi \froman\fcharset238\fprq2 Century Schoolbook CE;}{\f699\fbidi \froman\fcharset204\fprq2 Century Schoolbook Cyr;}
{\f701\fbidi \froman\fcharset161\fprq2 Century Schoolbook Greek;}{\f702\fbidi \froman\fcharset162\fprq2 Century Schoolbook Tur;}{\f705\fbidi \froman\fcharset186\fprq2 Century Schoolbook Baltic;}
{\flomajor\f31508\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}{\flomajor\f31509\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}{\flomajor\f31511\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}
{\flomajor\f31512\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}{\flomajor\f31513\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}{\flomajor\f31514\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}
{\flomajor\f31515\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}{\flomajor\f31516\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}{\fdbmajor\f31518\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}
{\fdbmajor\f31519\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}{\fdbmajor\f31521\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}{\fdbmajor\f31522\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}
{\fdbmajor\f31523\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}{\fdbmajor\f31524\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}{\fdbmajor\f31525\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}
{\fdbmajor\f31526\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}{\fhimajor\f31528\fbidi \fswiss\fcharset238\fprq2 Calibri Light CE;}{\fhimajor\f31529\fbidi \fswiss\fcharset204\fprq2 Calibri Light Cyr;}
{\fhimajor\f31531\fbidi \fswiss\fcharset161\fprq2 Calibri Light Greek;}{\fhimajor\f31532\fbidi \fswiss\fcharset162\fprq2 Calibri Light Tur;}{\fhimajor\f31535\fbidi \fswiss\fcharset186\fprq2 Calibri Light Baltic;}
{\fhimajor\f31536\fbidi \fswiss\fcharset163\fprq2 Calibri Light (Vietnamese);}{\fbimajor\f31538\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}{\fbimajor\f31539\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}
{\fbimajor\f31541\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}{\fbimajor\f31542\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}{\fbimajor\f31543\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}
{\fbimajor\f31544\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}{\fbimajor\f31545\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}{\fbimajor\f31546\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}
{\flominor\f31548\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}{\flominor\f31549\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}{\flominor\f31551\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}
{\flominor\f31552\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}{\flominor\f31553\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}{\flominor\f31554\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}
{\flominor\f31555\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}{\flominor\f31556\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}{\fdbminor\f31558\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}
{\fdbminor\f31559\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}{\fdbminor\f31561\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}{\fdbminor\f31562\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}
{\fdbminor\f31563\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}{\fdbminor\f31564\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}{\fdbminor\f31565\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}
{\fdbminor\f31566\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}{\fhiminor\f31568\fbidi \fswiss\fcharset238\fprq2 Calibri CE;}{\fhiminor\f31569\fbidi \fswiss\fcharset204\fprq2 Calibri Cyr;}
{\fhiminor\f31571\fbidi \fswiss\fcharset161\fprq2 Calibri Greek;}{\fhiminor\f31572\fbidi \fswiss\fcharset162\fprq2 Calibri Tur;}{\fhiminor\f31575\fbidi \fswiss\fcharset186\fprq2 Calibri Baltic;}
{\fhiminor\f31576\fbidi \fswiss\fcharset163\fprq2 Calibri (Vietnamese);}{\fbiminor\f31578\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}{\fbiminor\f31579\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}
{\fbiminor\f31581\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}{\fbiminor\f31582\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}{\fbiminor\f31583\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}
{\fbiminor\f31584\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}{\fbiminor\f31585\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}{\fbiminor\f31586\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}}
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\red128\green0\blue128;\red128\green0\blue0;\red128\green128\blue0;\red128\green128\blue128;\red192\green192\blue192;\red255\green255\blue255;}{\*\defchp \fs22 }{\*\defpap \ql \li0\ri0\sa160\sl259\slmult1
\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 }\noqfpromote {\stylesheet{\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \snext0 \sqformat \spriority0 Normal;}{\s1\qj \li0\ri0\sb240\sa60\keepn\widctlpar\wrapdefault\nooverflow\faroman\outlinelevel0\rin0\lin0\itap0 \rtlch\fcs1 \ab\af31503\afs32\alang1025 \ltrch\fcs0 
\b\fs32\lang3081\langfe1033\kerning32\loch\f31502\hich\af31502\dbch\af31501\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext0 \slink133 \sqformat \spriority9 heading 1;}{\*\cs10 \additive \ssemihidden Default Paragraph Font;}{\*
\ts11\tsrowd\trftsWidthB3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tblind0\tblindtype3\tsvertalt\tsbrdrt\tsbrdrl\tsbrdrb\tsbrdrr\tsbrdrdgl\tsbrdrdgr\tsbrdrh\tsbrdrv \ql \li0\ri0\sa160\sl259\slmult1
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\s17\qj \fi-720\li3110\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3110\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon110 \snext17 Penalty Sub Para;}{\*\cs18 
\additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 AlternativeEnd;}{\*\cs19 \additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 AlternativeStart;}{\s20\qc \li0\ri0\sb240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 
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\ab\af39\afs24\alang1025 \ltrch\fcs0 \b\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext21 Amendments;}{\s22\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 
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\ai\af0 \ltrch\fcs0 \i \sbasedon10 Bill Position;}{\s26\qr \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs20\alang1025 \ltrch\fcs0 \f39\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext26 
Bill Signature;}{\s27\qc \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ai\af39\afs26\alang1025 \ltrch\fcs0 \i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext27 Brought In By;}{
\s28\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs30\alang1025 \ltrch\fcs0 \b\caps\f39\fs30\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext28 Chapter First;}{\*\cs29 
\additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Chapter No;}{\s30\qc \li0\ri0\sb240\keepn\pagebb\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs30\alang1025 \ltrch\fcs0 
\b\caps\f39\fs30\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon28 \snext30 Chapter Rest;}{\s31\qj \li720\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext31 Charge;}{\s32\qj \li1800\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1800\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
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\b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext33 Clause Headnote;}{\*\cs34 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Clause No;}{\s35\qj \fi-1843\li1843\ri0\sa120\widctlpar
\tx576\wrapdefault\nooverflow\faroman\rin0\lin1843\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\cf11\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext35 Client Note;}{\s36\qj \li0\ri0\widctlpar\brdrt
\brdrs\brdrw15\brsp20 \wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs18\alang1025 \ltrch\fcs0 \b\caps\f39\fs18\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext36 Cognate;}{
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\ltrch\fcs0 \cf3 \sbasedon10 Date1;}{\s39\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs22\alang1025 \ltrch\fcs0 \b\caps\f39\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext39 Deed;}{\s40\qc \li0\ri0\sb240\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon56 \snext40 Deed Graphic;}
{\*\cs41 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Deed No;}{\s42\qj \fi-720\li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext42 Definition Paragraph;}{\s43\qj \fi-720\li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon42 \snext43 Definition Sub Paragraph;}{\s44\qj \fi-731\li3611\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3611\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext44 Definition Sub Sub Paragraph;}{\*\cs45 \additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf11 \sbasedon10 Definition Term;}{
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\s47\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext47 Division;}{\*\cs48 \additive 
\rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Division No;}{\s49\qj \li-1701\ri0\widctlpar\tqr\tx8789\wrapdefault\nooverflow\faroman\rin0\lin-1701\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext49 \slink50 footer;}{\*\cs50 \additive \rtlch\fcs1 \af39\afs26 \ltrch\fcs0 \f39\fs26\lang3081\langfe0\langnp3081 \sbasedon10 \slink49 \slocked \ssemihidden Footer Char;}{\*\cs51 
\additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf12 \sbasedon10 Foreign;}{\s52\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs22\alang1025 \ltrch\fcs0 
\b\caps\f39\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext52 Form;}{\s53\qc \li0\ri0\sb240\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon56 \snext53 Form Graphic;}{\*\cs54 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Form No;}{
\s55\qc \li0\ri0\sb240\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext55 Formula;}{
\s56\qc \li0\ri0\sb240\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext56 Graphic;}{
\s57\qj \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext57 Graphic Description;}{
\s58\qj \li0\ri0\sb480\sa240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext58 Head Note;}{
\s59\qj \li0\ri0\widctlpar\tqc\tx4153\tqr\tx8306\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext59 \slink60 header;}{\*\cs60 
\additive \rtlch\fcs1 \af39\afs26 \ltrch\fcs0 \f39\fs26\lang3081\langfe0\langnp3081 \sbasedon10 \slink59 \slocked \ssemihidden Header Char;}{\s61\qj \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\ai\af39\afs26\alang1025 \ltrch\fcs0 \i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext61 Image;}{\s62\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext62 Image Description;}{\*\cs63 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Image No;}{\*\cs64 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf0 \sbasedon10 Image Type;}{\*
\cs65 \additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf9 \sbasedon10 Item No;}{\s66\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 
\b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext66 Long Title;}{\s67\qj \li0\ri0\sa240\widctlpar
\tx144\tx288\tx432\tx576\tx720\tx864\tx1008\tx1152\tx1296\tx1440\tx1584\tx1728\tx1872\tx2016\tx2160\tx2304\tx2448\tx2592\tx2736\tx2880\tx3024\tx3168\tx3312\tx3456\tx3600\tx3744\tx3888\tx4032\tx4176\tx4320\tx4464\tx4608\tx4752\tx4896\tx5040
\tx5184\tx5328\tx5472\tx5616\tx5760\tx5904\tx6048\tx6192\tx6336\tx6480\tx6624\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext67 
Oath;}{\s68\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext68 Order;}{\*\cs69 \additive \rtlch\fcs1 \ab\af0 
\ltrch\fcs0 \b\caps \sbasedon10 Order No;}{\s70\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs20\alang1025 \ltrch\fcs0 \f39\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext70 
Originating;}{\s71\qj \li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext71 Out Def;}{
\s72\qj \li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext72 Out Def Para;}{
\s73\qj \li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext73 Out Def Sub Para;}{
\s74\qj \li3600\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext74 Out Def Sub Sub Para;}{
\s75\qj \li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext75 Out Para;}{
\s76\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext76 Out Section;}{
\s77\qj \li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext77 Out Sub Para;}{
\s78\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext78 Out Sub Section;}{
\s79\qj \li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext79 Out Sub Sub Para;}{\*\cs80 \additive 
\rtlch\fcs1 \af0 \ltrch\fcs0 \sbasedon10 page number;}{\s81\qj \fi-720\li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext81 Paragraph;}{\*\cs82 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Paragraph No;}{\s83\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 
\b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext83 Part First;}{\*\cs84 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Part No;}{
\s85\qc \li0\ri0\sb240\keepn\pagebb\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon83 \snext85 Part Rest;}{
\s86\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs22\alang1025 \ltrch\fcs0 \b\caps\f39\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon83 \snext86 Part Schedule;}{
\s87\qj \fi-1083\li1797\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1797\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext87 Penalty;}{
\s88\qj \fi-576\li2376\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2376\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon87 \snext88 Penalty Para;}{
\s89\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext89 Preamble Text;}{
\s90\qj \fi-1987\li1987\ri0\sa120\widctlpar\tx576\wrapdefault\nooverflow\faroman\rin0\lin1987\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\cf12\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext90 Private Note;}
{\s91\qj \li0\ri0\sa240\widctlpar\tx720\tx1166\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext91 Qualifying Text;}{\*\cs92 
\additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 RefAct;}{\*\cs93 \additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 RefCase;}{\*\cs94 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf11 \sbasedon10 RefDefTerm;}{\*\cs95 \additive 
\rtlch\fcs1 \af0 \ltrch\fcs0 \cf13 \sbasedon10 RefExternal;}{\*\cs96 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf13 \sbasedon10 RefInternal;}{\*\cs97 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf13 \sbasedon10 RefStandard;}{\*\cs98 \additive \rtlch\fcs1 
\ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 RefStatutory;}{\s99\qc \li0\ri0\sb240\pagebb\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 
\b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext99 Schedule;}{\*\cs100 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Schedule No;}{
\s101\qr \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext101 Schedule SectRef;}{\*\cs102 \additive 
\rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Section No;}{\*\cs103 \additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 Short Title;}{\s104\qc \li0\ri0\sa480\sl-360\slmult0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\ab\af39\afs30\alang1025 \ltrch\fcs0 \b\caps\f39\fs30\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext104 Short Title Heading;}{\s105\qc \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext105 Short Title No;}{\s106\qc \li0\ri0\sb480\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext106 State;}{\*\cs107 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf12 \sbasedon10 StatOffice;}{\*\cs108 \additive \rtlch\fcs1 \ab\af0 
\ltrch\fcs0 \b\cf9 \sbasedon10 Sub Clause No;}{\s109\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext109 Sub Division;}{\s110\qj \fi-720\li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext110 Sub Paragraph;}{\*\cs111 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Sub Paragraph No;}{\s112\qj \fi720\li0\ri0\sa240\widctlpar\tx1170\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 
\ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext112 Sub Section;}{\*\cs113 \additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf9 \sbasedon10 Sub Section No;}{
\s114\qj \fi-720\li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext114 Sub Sub Paragraph;}{\*\cs115 
\additive \rtlch\fcs1 \af0 \ltrch\fcs0 \caps\cf9 \sbasedon10 Sub Sub Paragraph No;}{\*\cs116 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Subdivision No;}{\*\cs117 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \super \sbasedon10 Super;}{\*\cs118 
\additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b \sbasedon10 Table Bold;}{\*\cs119 \additive \rtlch\fcs1 \ab\ai\af0 \ltrch\fcs0 \b\i \sbasedon10 Table Bold Italic;}{\s120\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext120 Table Content;}{\*\cs121 \additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i \sbasedon10 Table Italic;}{\*\cs122 \additive \rtlch\fcs1 \af0 
\ltrch\fcs0 \cf9 \sbasedon10 Table Item No;}{\s123\qc \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext123 
Table Title;}{\s124\qj \li0\ri0\sb240\keepn\widctlpar\tqr\tx7087\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext124 \sautoupd \ssemihidden toc 1;}{\s125\qj \fi-720\li2534\ri-45\sb120\keepn\widctlpar\tx720\tqr\tx7087\wrapdefault\nooverflow\faroman\rin-45\lin2534\itap0 \rtlch\fcs1 \ab\ai\af39\afs24\alang1025 \ltrch\fcs0 
\b\i\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext125 \sautoupd \ssemihidden toc 2;}{\s126\qj \fi-720\li720\ri-43\sb120\widctlpar\tx1080\tx1440\tqr\tx7087\wrapdefault\nooverflow\faroman\rin-43\lin720\itap0 \rtlch\fcs1 
\af39\afs24\alang1025 \ltrch\fcs0 \f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext126 \sautoupd \ssemihidden toc 3;}{\s127\qj \fi-720\li1559\ri-45\sb120\widctlpar\tqr\tx7087\wrapdefault\nooverflow\faroman\rin-45\lin1559\itap0 
\rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext127 \sautoupd \ssemihidden toc 4;}{\s128\qj \fi-720\li1967\ri0\sb120\widctlpar
\tqr\tx7087\wrapdefault\nooverflow\faroman\rin0\lin1967\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext128 \sautoupd \ssemihidden toc 5;}{
\s129\qj \li907\ri-29\widctlpar\tqr\tx6660\tqr\tx7087\wrapdefault\nooverflow\faroman\rin-29\lin907\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext129 \sautoupd \ssemihidden 
toc 6;}{\s130\qj \fi-720\li1627\ri-29\widctlpar\tx1987\tx3067\tqr\tx7087\wrapdefault\nooverflow\faroman\rin-29\lin1627\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext130 \sautoupd \ssemihidden toc 7;}{\s131\qj \fi-720\li1080\ri0\sb120\widctlpar\tx1080\tx1440\tx1800\tx2160\tx7087\wrapdefault\nooverflow\faroman\rin0\lin1080\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 
\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext131 \sautoupd \ssemihidden toc 8;}{\s132\qj \li2080\ri0\widctlpar\tqr\tx7087\wrapdefault\nooverflow\faroman\rin0\lin2080\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 
\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext132 \sautoupd \ssemihidden toc 9;}{\*\cs133 \additive \rtlch\fcs1 \ab\af31503\afs32 \ltrch\fcs0 
\b\fs32\lang3081\langfe0\kerning32\loch\f31502\hich\af31502\dbch\af31501\langnp3081 \sbasedon10 \slink1 \slocked \spriority9 Heading 1 Char;}{\s134\qc \li0\ri0\sb480\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext134 \sqformat TOC Heading;}{\*\cs135 \additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf15 \sbasedon10 zActNumber;}{\*\cs136 \additive 
\rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf15 \sbasedon10 zActYear;}{\s137\qr \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext137 zAssentDate;}{\s138\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext138 
zBillNumber;}{\s139\qj \li0\ri0\widctlpar\pvpara\posy1440\dxfrtext187\dfrmtxtx187\dfrmtxty0\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ai\af39\afs20\alang1025 \ltrch\fcs0 \i\f39\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext139 zSecondReading;}{\s140\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext140 AdminDep;}{
\s141\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext141 CertifyLaw Text;}{
\s142\qc \li0\ri0\sb120\sa240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ai\af39\afs26\alang1025 \ltrch\fcs0 \i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext142 Conditions;}{
\s143\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext143 ConfirmGov;}{
\s144\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext144 Execution Text;}{
\s145\qc \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext145 Explain Heading;}{
\s146\qj \li0\ri0\sa240\widctlpar\tx720\tx1166\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon91 \snext146 Explain Note;}{
\s147\qc \li0\ri0\sa240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ai\af39\afs26\alang1025 \ltrch\fcs0 \i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext147 Explain Note Note;}{
\s148\qj \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext148 GazetteDate;}{
\s149\qc \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext149 GenConditions;}{
\s150\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext150 GovernorSig Text;}{
\s151\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext151 MinisterSig Text;}{
\s152\qj \li0\ri0\sa240\keep\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext152 Opening Words;}{
\s153\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext153 Seal;}{
\s154\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext154 SR Date;}{
\s155\qr \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext155 SR Position;}{
\s156\qj \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext156 SR Printed;}{
\s157\qr \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext157 SR Signature;}{\*\cs158 \additive 
\rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i \sbasedon10 Tariff;}{\s159\qc \li0\ri0\sb480\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 
\b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext159 Tariff Group;}{\s160\qj \li0\ri0\sb480\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 
\b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext160 Tariff Heading;}{\*\cs161 \additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\caps\cf9 \sbasedon10 Tariff No;}{
\s162\qc \li0\ri0\sb480\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext162 TariffList Heading;}{
\s163\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext163 TariffList Text;}{
\s164\qj \fi-1080\li2520\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2520\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext164 Amd Charge;}{
\s165\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext165 Amd Division;}{
\s166\qj \li720\ri0\sb480\sa240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext166 Amd Head Note;}{\*\cs167 
\additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf5 \sbasedon10 Amd Number;}{\*\cs168 \additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf5 \sbasedon10 Amd Number Bold;}{\*\cs169 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \caps\cf5 \sbasedon10 Amd Number Cap;}{
\s170\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext170 Amd Part;}{
\s171\qj \li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext171 Amd Penalty;}{
\s172\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext172 Amd Schedule;}{
\s173\qj \li3240\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3240\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext173 Amd1 Charge;}{
\s174\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon47 \snext174 Amd1 Division;}{
\s175\qj \li1440\ri0\sb480\sa240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon166 \snext175 Amd1 Head Note;}{
\s176\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon170 \snext176 Amd1 Part;}{
\s177\qj \li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext177 Amd1 Penalty;}{
\s178\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon172 \snext178 Amd1 Schedule;}{
\s179\qj \li720\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext179 Indent 0.5;}{
\s180\qj \li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon179 \snext180 Indent 1.0;}{
\s181\qj \li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon180 \snext181 Indent 1.5;}{
\s182\qj \fi720\li720\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext182 Indent 1st 0.5;}{
\s183\qj \fi720\li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon182 \snext183 Indent 1st 1.0;}{
\s184\qj \fi720\li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon183 \snext184 Indent 1st 1.5;}{
\s185\qj \fi720\li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon184 \snext185 Indent 1st 2.0;}{
\s186\qj \fi720\li3600\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon185 \snext186 Indent 1st 2.5;}{
\s187\qj \li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon181 \snext187 Indent 2.0;}{
\s188\qj \li3600\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon187 \snext188 Indent 2.5;}{
\s189\qj \fi-720\li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext189 Indent Hng 0.5;}{
\s190\qj \fi-720\li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext190 Indent Hng 1.0;}{
\s191\qj \fi-720\li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon190 \snext191 Indent Hng 1.5;}{
\s192\qj \fi-720\li3600\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon191 \snext192 Indent Hng 2.0;}{
\s193\qj \fi-720\li4320\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin4320\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon192 \snext193 Indent Hng 2.5;}{
\s194\qj \fi-720\li720\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \f39\fs24\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext194 TOC Entry;}{\*\cs195 \additive 
\rtlch\fcs1 \ab\af0\afs30 \ltrch\fcs0 \b\caps\fs30\cf15 \sbasedon10 Year;}{\s196\qj \li0\ri0\widctlpar\pvpg\posy15593\dxfrtext187\dfrmtxtx187\dfrmtxty0\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs22\alang1025 \ltrch\fcs0 
\f39\fs22\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext196 zDocumentStamp;}{\s197\qj \li0\ri0\widctlpar\pvpg\posy720\dxfrtext187\dfrmtxtx187\dfrmtxty0\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext197 zDraftNotice;}{
\s198\qj \li0\ri0\widctlpar\pvpg\posxc\posy14912\dxfrtext187\dfrmtxtx187\dfrmtxty0\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs20\alang1025 \ltrch\fcs0 \f39\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext198 zGovPrintImp;}{\*\cs199 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \caps \sbasedon10 ShortTitleHeadEnd;}{\s200\qj \li0\ri0\widctlpar\pvpg\posy284\dxfrtext181\dfrmtxtx181\dfrmtxty181\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs20\alang1025 \ltrch\fcs0 \f39\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon197 \snext200 zConsolidate;}{\s201\qj \fi-1080\li2520\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2520\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon87 \snext201 Para Penalty;}{\s202\qj \fi-576\li3096\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3096\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon87 \snext202 Para Penalty Para;}{\s203\qj \fi-720\li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext203 Para Definition Text;}{\s204\qj \fi-720\li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext204 Sub Para Def Text;}{\s205\qj \fi-720\li3600\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext205 Sub Sub Para Def Text;}{\*\cs206 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \sub \sbasedon10 Sub;}{
\s207\qj \li720\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext207 CounterSigText;}{
\s208\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs30\alang1025 \ltrch\fcs0 \b\caps\f39\fs30\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon28 \snext208 Amd Chapter;}{
\s209\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af39\afs30\alang1025 \ltrch\fcs0 \b\caps\f39\fs30\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon208 \snext209 Amd1 Chapter;}{
\s210\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon109 \snext210 Amd SubDivision;}{
\s211\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon210 \snext211 Amd1 SubDivision;}{
\s212\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs22\alang1025 \ltrch\fcs0 \b\caps\f39\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon39 \snext212 Amd Deed;}{
\s213\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af39\afs22\alang1025 \ltrch\fcs0 \b\caps\f39\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon212 \snext213 Amd1 Deed;}{
\s214\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs22\alang1025 \ltrch\fcs0 \b\caps\f39\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon52 \snext214 Amd Form;}{
\s215\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af39\afs22\alang1025 \ltrch\fcs0 \b\caps\f39\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon214 \snext215 Amd1 Form;}{
\s216\qj \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ai\af39\afs26\alang1025 \ltrch\fcs0 \i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon61 \snext216 Amd Image;}{
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\s218\qj \li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon31 \snext218 Para Charge;}{
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\fs24\insrsid3347805  }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \b\fs24\insrsid3347805 \endash  }{\field{\*\fldinst {\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \b\fs24\insrsid3347805 PAGE}}{\fldrslt {\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid1975124 21}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \b\fs24\insrsid3347805  \endash }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
\par }}{\footerf \ltrpar \pard\plain \ltrpar\s49\qc \li0\ri0\widctlpar\tqr\tx8789\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 
\par }}{\*\pnseclvl1\pnucrm\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl2\pnucltr\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl3\pndec\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl4\pnlcltr\pnstart1\pnindent720\pnhang {\pntxta )}}
{\*\pnseclvl5\pndec\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl6\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl7\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl8
\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl9\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}\pard\plain \ltrpar\s105\qc \li0\ri0\sb5000\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 
\ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39\afs24 \ltrch\fcs0 \cs135\b0\fs24\cf0\insrsid3347805 Chapter 141}{\rtlch\fcs1 \ab0\af39\afs24 \ltrch\fcs0 
\b0\fs24\cf0\insrsid3347805 .
\par }\pard\plain \ltrpar\s104\qc \li0\ri0\sa240\sl-360\slmult0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs30\alang1025 \ltrch\fcs0 \b\caps\f39\fs30\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ai\af39\afs24 
\ltrch\fcs0 \i\caps0\fs24\cf0\insrsid3347805 Savings and Loan Societies Act }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs199\caps0\fs24\cf0\insrsid3347805 1961}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \i\caps0\fs24\cf0\insrsid3347805 .
\par }\pard\plain \ltrpar\qc \li0\ri0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Certified on:    /   /20   .
\par 
\par INDEPENDENT STATE OF PAPUA NEW GUINEA.
\par }\pard\plain \ltrpar\s37\qc \li0\ri0\sb480\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 

\par }\pard\plain \ltrpar\s105\qc \li0\ri0\sb240\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39\afs24 \ltrch\fcs0 
\b0\fs24\cf0\insrsid3347805 Chapter }{\rtlch\fcs1 \ab0\af39\afs24 \ltrch\fcs0 \cs135\b0\fs24\cf0\insrsid3347805 141}{\rtlch\fcs1 \ab0\af39\afs24 \ltrch\fcs0 \b0\fs24\cf0\insrsid3347805 .
\par }\pard\plain \ltrpar\s104\qc \li0\ri0\sb500\sa240\sl-360\slmult0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs30\alang1025 \ltrch\fcs0 \b\caps\f39\fs30\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 
\ai\af39\afs24 \ltrch\fcs0 \i\caps0\fs24\cf0\insrsid3347805 Savings and Loan Societies Act }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs199\caps0\fs24\cf0\insrsid3347805 1961}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \i\caps0\fs24\cf0\insrsid3347805 .
\par }\pard\plain \ltrpar\s134\qc \li567\ri0\sb480\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin567\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\insrsid3347805 ARRANGEMENT OF SECTIONS.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af39 \ltrch\fcs0 
\b\insrsid3347805 PART I \endash  PRELIMINARY.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805 1.\tab Interpretation.
\par }\pard\plain \ltrpar\s127\qj \fi-720\li1559\ri0\widctlpar\wrapdefault\faauto\rin0\lin1559\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93association\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93bank\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93the Board\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93Central Bank\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93Director\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93the Federation\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93financial year\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93Governor\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93League\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93the Loans Committee\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93management\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93member\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93officer\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93the Registrar\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93the regulations\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93the Rules\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93savings\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93society\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93the standard rules\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93the Supervisory Committee\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par  }{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \cs45\b0\caps0\insrsid3347805 \'93this Act\'94}{\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 \b0\caps0\insrsid3347805  
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af39 \ltrch\fcs0 
\b\insrsid3347805 PART II \endash  ADMINISTRATION.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805 2.\tab Registrar and Deputy Registrars.
\par 3.\tab Functions and powers of the Registrar.
\par 4.\tab Audit.
\par 4A.\tab Consequences of audit.
\par 4B.\tab Protection of persons supplying information to the Registrar.
\par 5.\tab Delegation.
\par 6.\tab Annual report.
\par 7.\tab Advisers.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af39 \ltrch\fcs0 
\b\insrsid3347805 PART III \endash  SOCIETIES OTHER THAN ASSOCIATIONS.
\par }\pard\plain \ltrpar\s125\qj \fi-720\li2534\ri0\widctlpar\wrapdefault\faauto\rin0\lin2534\itap0 \rtlch\fcs1 \ab\ai\af39\afs24\alang1025 \ltrch\fcs0 \b\i\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39 \ltrch\fcs0 
\insrsid3347805 Division 1 \endash  Preliminary.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805 8.\tab Application of Part III.
\par }\pard\plain \ltrpar\s125\qj \fi-720\li2534\ri0\widctlpar\wrapdefault\faauto\rin0\lin2534\itap0 \rtlch\fcs1 \ab\ai\af39\afs24\alang1025 \ltrch\fcs0 \b\i\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39 \ltrch\fcs0 
\insrsid3347805 Division 2 \endash  Registration.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805 9.\tab Savings and Loan Societies.
\par 10.\tab Application for registration.
\par 11.\tab Registration.
\par 12.\tab Change of name of society.
\par 13.\tab Incorporation.
\par 13A.\tab Registrar may require a society to be licensed as a financial institution.
\par 14.\tab Liability of members.
\par 15.\tab Powers of societies.
\par }\pard\plain \ltrpar\s125\qj \fi-720\li2534\ri0\widctlpar\wrapdefault\faauto\rin0\lin2534\itap0 \rtlch\fcs1 \ab\ai\af39\afs24\alang1025 \ltrch\fcs0 \b\i\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39 \ltrch\fcs0 
\insrsid3347805 Division 3 \endash  Constitution.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805 16.\tab Standard rules.
\par 17.\tab Supplementary rules.
\par 18.\tab Binding effect of Rules.
\par 19.\tab Membership.
\par 20.\tab Group membership.
\par 21.\tab Savings.
\par 22.\tab Lien on savings.
\par 23.\tab Death of member.
\par 24.\tab Annual general meeting.
\par 25.\tab Election of Board and Supervisory Committee.
\par 26.\tab Loans Committees.
\par 27.\tab Remuneration.
\par 28.\tab Powers of Board.
\par 28A.\tab Functions of Board.
\par 28B.\tab Functions of Management.
\par 29.\tab Procedure on applications for loans.
\par 30.\tab Functions of Supervisory Committees.
\par 31.\tab Votes of members.
\par 32.\tab Minutes.
\par 33.\tab Fines.
\par }\pard\plain \ltrpar\s125\qj \fi-720\li2534\ri0\widctlpar\wrapdefault\faauto\rin0\lin2534\itap0 \rtlch\fcs1 \ab\ai\af39\afs24\alang1025 \ltrch\fcs0 \b\i\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39 \ltrch\fcs0 
\insrsid3347805 Division 4 \endash  Conversion of Co-operative Companies.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805 34.\tab Registration of co-operative companies as societies.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af39 \ltrch\fcs0 
\b\insrsid3347805 PART IV \endash  ASSOCIATIONS.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805 35.\tab Registration of associations.
\par 36.\tab Boundaries, etc., of associations.
\par 37.\tab Names of associations.
\par 38.\tab Rules of associations.
\par 39.\tab Liability of members of associations.
\par 40.\tab Powers of associations.
\par 41.\tab Employees.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af39 \ltrch\fcs0 
\b\insrsid3347805 PART V \endash  MANAGEMENT AND FINANCE.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805 42.\tab Loans.
\par 43.\tab Loans by associations.
\par 44.\tab Limitation on loans.
\par 45.\tab Borrowing.
\par 46.\tab Deposits.
\par 47.\tab General Reserve Fund.
\par 48.\tab Interest.
\par 49.\tab Books of account.
\par 50.\tab Annual statements.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af39 \ltrch\fcs0 
\b\insrsid3347805 PART VI \endash  WINDING-UP.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805 51.\tab Order for winding-up.
\par 52.\tab Liquidator.
\par 53.\tab Commencement of winding-up.
\par 54.\tab Liability of past and present members on winding-up.
\par 55.\tab Association taking over liabilities, etc., of society in liquidation.
\par 56.\tab Return by liquidator.
\par 57.\tab Dissolution.
\par 58.\tab Cancellation of registration.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af39\afs24\alang1025 \ltrch\fcs0 \caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af39 \ltrch\fcs0 
\b\insrsid3347805 PART VII \endash  MISCELLANEOUS.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs24\alang1025 \ltrch\fcs0 \b\caps\f39\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39 \ltrch\fcs0 
\b0\caps0\insrsid3347805 59.\tab Inspection of documents.
\par 60.\tab Disputes.
\par 61.\tab Judicial notice.
\par 62.\tab Appeals.
\par 63.\tab Unauthorized savings and loan societies.
\par 64.\tab Prohibition on use of title.
\par 65.\tab Default by society.
\par 66.\tab Obstruction, etc.
\par 67.\tab Liability of Directors, etc.
\par 68.\tab Regulations.
\par }\pard\plain \ltrpar\s106\qc \li0\ri0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 
\b\fs24\insrsid3347805 INDEPENDENT STATE OF PAPUA NEW GUINEA.
\par }\pard\plain \ltrpar\s37\qc \li0\ri0\sb480\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 
\par }\pard\plain \ltrpar\s105\qc \li0\ri0\sb480\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39\afs24 \ltrch\fcs0 
\b0\fs24\cf0\insrsid3347805 AN ACT
\par entitled
\par }\pard\plain \ltrpar\s104\qc \li0\ri0\sb480\sa240\sl-360\slmult0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs30\alang1025 \ltrch\fcs0 \b\caps\f39\fs30\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 
\ai\af39\afs24 \ltrch\fcs0 \i\caps0\fs24\cf0\insrsid3347805 Savings and Loan Societies Act }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs199\caps0\fs24\cf0\insrsid3347805 1961}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \i\caps0\fs24\cf0\insrsid3347805 ,
\par }\pard\plain \ltrpar\s66\qj \fi-720\li720\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af39\afs24 \ltrch\fcs0 
\b0\fs24\insrsid3347805 Being an Act relating to Savings and Loan Societies.
\par }\pard\plain \ltrpar\s83\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid3347805 PART I. \endash  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 PRELIMINARY.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 1.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Interpretation.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 In this Act, unless the contrary intention appears\endash 
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid3347805 \'93association\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805  means an association of societies formed under Part IV;
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 
\ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 1 (definition of \'93bank\'94) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s2(a).}}}{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93bank\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805  means the Rural Development Bank of Papua New Guinea, the Central Bank or any other bank carrying on business in the country and approved by the Registrar for the purposes of this Act;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93the Board\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 , in relation to a society, means the Board of Directors of the society;
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 
\ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 1 (definition of \'93Central Bank\'94) inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}
{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s2(b).}}}{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93Central Bank\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805  means the Bank of Papua New Guinea continued in establishment under the }{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs103\i\fs24\insrsid3347805 Central Banking Act 2000}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 ;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93Director\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 , in relation to a society, means a member of the Board of Directors of the society;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93the Federation\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805  means the association authorized under Section 37(2);
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93financial year\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 , in relation to a society, means the financial year of the society as defined in the Rules;
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 
\ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 1 (definition of \'93Governor\'94) inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s2(c).}}}{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93Governor\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805  means the Governor of the Central Bank appointed under Section 15 of the }{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs103\i\fs24\insrsid3347805 Central Banking Act 2000}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 ;

\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93League\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805  means an association other than the Federation;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93the Loans Committee\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
, in relation to a society other than an association, means the Loans Committee (if any) of the society established in accordance with Section 26;
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 
\ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 1 (definition of \'93management\'94) inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s2(d).}}}{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93management\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805  means the chief executive officer of a society;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93member\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805  means a member of a society;
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 
\ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 1 (definition of \'93officer\'94) repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings
 and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s2(e).}}}{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93officer\'94}{
\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 , in relation to a society, means the chairman, deputy chairman and secretary, and any other person empowered under the rules to give directions in regard to the business of the society;
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 
\ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 1 (definition of \'93the Registrar\'94) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}
{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s2(f).}}}{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93the Registrar\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805  means the Registrar of Savings and Loan Societies in accordance with Section 2;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93the regulations\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805  means any regulations made under this Act;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93the Rules\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 \endash 
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
in relation to a society other than an association, means the standard rules as applying to the society, and as added to or amended by rules made and approved under Section 17; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 in relation to a League, means the rules of the League applying in accordance with Section 38(2); and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 in relation to the Federation, means the rules approved under Section 28(1);
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 1 (definition of \'93savings\'94) inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s2(g).}}}{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93savings\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 , in relation to a society, means the savings deposits of the members of the society;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93society\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805  means a Savings and Loan Society registered under Section 11, and includes an association;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93the standard rules\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805  means rules made, approved and published under Section 16;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93the Supervisory Committee\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 , in relation to a society other than an association, means the Supervisory Committee o
f the society elected under Section 25;
\par }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93this Act\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805  includes the regulations.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid3347805 PART II. \endash  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 ADMINISTRATION.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 2.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Registrar and Deputy Registrars.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 2 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s3.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The Governor of the Central Bank shall be the Registrar of Savings and Loan Societies.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar is charged with the administration of this Act and has such powers, functions and duties as are conferred on him by this Act.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar shall have a seal of office approved by the Governor.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The Registrar may, by notice in the National Gazette, appoint an officer or officers of the Central Bank to be a Deputy Registrar or Deputy Registrars.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (5) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 During the absence from duty of the Registrar by 
reason of illness, leave of absence or other cause, the powers and functions of the Registrar may be exercised by a Deputy Registrar.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (6) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 During the absence of both the Registrar and the Deputy Registrar or Deputy Registrars, the Governor shall appoint a p
erson to act as Registrar and that person shall exercise the powers and functions of the Registrar under this Act.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 3.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Functions and powers of the Registrar.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 3 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s4.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject to any directions by the Governor, the functions and powers of the Registrar are to\endash 

\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
register groups as societies where he is satisfied that registration is advisable; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 inspect or investigate the operations of a society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 make Rules for a society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 appoint his representatives to the Board of Directors and Supervisory Committee of a society, where he is of the opinion that the society is carrying on business detrimental to the best interests of the members; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 e}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 suspend the operations of a society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 f}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 suspend or remove a member or members of a Board of Directors, Supervisory Committee, Loans Committee or management of a society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 g}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 wind-up the operations of a society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 h}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 appoint a member or all the members of the Board of Directors and Supervisory Committee of a society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 i}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 set guidelines for investments for savings and loans for societies; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 j}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 set lending guidelines for societies; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 k}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 require a society to submit such information as he specifies; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 l}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 appoint an Administrator to manage a society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 m}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 direct a society to apply for a licence as a licensed financial institution in accordance with the }{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs92\i\fs24\insrsid3347805 Banks and Financial Institutions Act 2000}{\rtlch\fcs1 
\af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 ; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 n}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 direct a society to do such things as he specifies; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 o}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 do all things necessary or convenient to be done for or in connection with the achievement of the objects and the performance of the functions of a society.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 4.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Audit.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 T
he Registrar, or a person authorized by him, shall inspect and audit the accounts and records of financial transactions of a society and records relating to its assets or assets in its custody, and shall promptly draw the attention of the Board to any irr
egularity disclosed by the inspection and audit that is, in the opinion of the Registrar, of sufficient importance to justify his so doing.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar or authorized person may, in his discretion, dispense with the whole or any part of the detailed in
spection and audit of any accounts or records referred to in Subsection (1).
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The Registrar shall, at least once in each year, report to the Board the results of the inspection and audit carried out under Subsection (1).
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar or a person au
thorized by him is entitled at all reasonable times to full and free access to all accounts, records, documents and papers of a society relating directly or indirectly to the receipt or payment of moneys by it, or to the acquisition, receipt, custody or d
isposal of assets by it.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (5) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The Registrar or a person authorized by him may make copies of, or take extracts from, any such accounts, records, documents or papers.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (6) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar or a person authorized by him may require any person to furnish him with s
uch information in his possession or to which he has access as the Registrar or authorized person thinks necessary for the purposes of the functions of the Registrar or authorized person under this section, and the person must comply with the requirement.

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (7) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A person who contravenes Subsection (6) is guilty of an offence.
\par }\pard\plain \ltrpar\s87\qj \fi-1083\li1797\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1797\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Penalty:\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 4: Penalty clause amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s5.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A fine not exceeding K5,000.00.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 4A.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Consequences of audit.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 4A inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s6.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Where the Registrar is of the opinion that any irregularities disclosed by the inspection and audit of a society under Section 4 are serious in nature, he may suspend a part or the whole of the operations of the society.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar may, in addition to any suspension under Subsection (1), take such other action as is necessary to restore normality to the operations of the society.

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Where any\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
suspension effected under Subsection (1); and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 action taken under Subsection (2),
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
are unable to restore normality to the operations of a society, the Registrar may take such action under Sections 3A and 51 as he considers necessary.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 4B.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Protection of persons supplying information to the Registrar.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 4B inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s7.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Where a member, Director, officer or staff member of a society\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
supplies information to the Registrar, either on his own initiative or in pursuance of a requirement by the Registrar; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the information supplied discloses, or the manner of supplying the information constitutes, a ground for disciplining the member, Director, officer or staff member supplying the information,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
the Supervisory Committee, Board or management of the society shall not commence disciplinary procedures against that member, Directo
r, officer or staff member until the completion by the Registrar of any investigation in respect of the information supplied.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 5.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Delegation.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 The Registrar may delegate, in writing, all or any of his powers and functions under this Act (except this power of delegation).
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 6.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Annual report.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 6 amended by No. 47 of 1977, Schedule 1; amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act
}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s8.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The Registrar shall, not later than three calendar months after the end of each financial year, furnish a report to the Minister on his proceedings, the principal matters transacted by him and the operation of this Act during the period of 12 months ended
 on the preceding 31 December.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 7.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Advisers.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar may, by writing under his hand, appoint a person to act as adviser to a society.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The duties of an adviser to a society are\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
to assist the society, in an honorary capacity, in the interpretation of this Act and the Rules; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 to carry out such other functions for the furtherance of the aims of the society as are agreed on in writing between the adviser and the Registrar.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 An adviser to a society may attend and take part in meetings of the society and the Board, but is not entitled to vote on a question at a meeting.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid3347805 PART III. \endash  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 SOCIETIES OTHER THAN ASSOCIATIONS.
\par }\pard\plain \ltrpar\s47\qc \li0\ri0\sb120\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs48\fs24\insrsid3347805 Division 1.}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
\par Preliminary.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 8.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Application of Part III.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Subject to Part IV, this Part does not apply to or in relation to an association.
\par }\pard\plain \ltrpar\s47\qc \li0\ri0\sb120\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs48\fs24\insrsid3347805 Division 2.}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
\par Registration.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 9.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Savings and Loan Societies.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Subject to this Act, a group of persons the objects of which are\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
to promote thrift among its members; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 to educate its members in financial responsibility; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 9(c) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s9.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
to receive the savings of its members as contributions in the form of savings deposits; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 to make loans to its members for any of the purposes specified in Part V.,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
 may be registered as a Savings and Loan Society under this Act.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 10.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Application for registration.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 10(1) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s10(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote 
\ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 10(1) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s10(a).}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805 A minimum of 500 persons or such other number as is determined by the Registrar qualified to be members of a Savings and Loan So
ciety who desire to associate themselves together as a group for the objects specified in Section 9 may apply for registration as a Savings and Loan Society under this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 An application for registration shall be forwarded to the Registrar, together with\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
details of the proposed name and address of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 a description of the group of persons to which membership is to be limited; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 a list of prospective members, together with their addresses and a statement of\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 their qualifications for membership of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar
\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 10(2)(c)(ii) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s10(b).}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs111\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 the amount that each prospective member proposes to deposit; and
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 the name and add
ress of the provisional secretary; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 e}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 a copy of the proposed rules of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 f}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 such other particulars as are prescribed or required by the Registrar.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 11.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Registration.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 If the Registrar is satisfied that registration is advisable and in particular that\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
the proposed society is viable; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the group to which membership is limited is such that reasonable personal contact is assured among the members,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
he shall register the society and issue to the provisional secretary a certificate in the prescribed form that the society is incorporated under this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Except with the consent of the Minister, a society shall not be registered by a name that, in the opinion of the
 Registrar, is undesirable or is a name, or a name of a kind, that the Minister responsible for the administration of the }{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs92\i\fs24\insrsid3347805 Companies Act 1997}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805  has, under Section 22 of that Act, directed the Registrar of Companies not to accept for registration under that Act.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Where a society is registered in contravention of Subsection (2), the Registrar may direct the society to change its name.

\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 12.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Change of name of society.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject to this section, a society may, by special resolution, change its name.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Section 11(2) applies in relation to a name to which it is intended to change the name of a society.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Within one month after a society passes a special resolution under Subsection (1), it must forward to the Registrar\endash 

\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
notice of the special resolution; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 its certificate of incorporation; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the prescribed particulars.
\par }\pard\plain \ltrpar\s87\qj \fi-1083\li1797\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1797\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Penalty:\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 12(3): Penalty clause amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s11.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
A fine not exceeding K1,000.00, and in addition a fine not exceeding K20.00 for every day during which the offence continues.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 If the Registrar is satisfied that the provisions of this Act with respect to the change of the name of a society have been co
mplied with, he shall register the change of name in the prescribed manner, and the change of name has effect from the date of registration.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (5) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 No right or obligation of a society, a member of a society or any other person is affected by a change of the n
ame of the society, and no legal proceedings by or against the society are made defective by reason of the change.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (6) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Any legal proceedings that might have been commenced or continued against a society by its former name may be commenced or continued against it by its new name.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 13.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Incorporation.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A society is a corporation by the name under which it is registered.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The corporation\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 has perpetual succession; and

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 shall have a seal; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 has power\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 to hold property; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 to enter into contracts; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (iii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 to institute and defend actions, suits and legal proceedings; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (iv)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 to do all things necessary or convenient for the purposes of its constitution.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The name of a society shall end with the word \'93Limited\'94 or the abbreviation \'93Ltd\'94.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 13A.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Registrar may require a society to be licensed as a financial institution.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 13A inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s12.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar may, where he considers it appropri
ate, either at the time of registration or at any time thereafter, direct a society to apply for a license as a licensed financial institution under the }{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs92\i\fs24\insrsid3347805 
Banks and Financial Institutions Act 2000}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 , and the society shall comply with such direction.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 14.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Liability of members.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 14 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s13.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The liability of a member of a society is limited to the amount of outstanding loan and interest thereon less savings and interest thereon credited to the account of the member.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 15.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Powers of societies.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 For the purpose of carrying out its objects, a society may, subject to this Act\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
deposit money with an association of which it, or of which an association of which it is a member, is a member; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 deposit money in a bank; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 15(c) repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s14(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
raise money on loan, subject to the approval of the Registrar, for the objects of the society and mortgage or pledge its property as security for the loan; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 invest funds in securities of or guaranteed by the State, or in other prescribed securities; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 da}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 15(da) inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s14(b).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
invest funds in any institution, subject to the approval of the Registrar; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 e}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 insure its loans, funds or property against loss; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 f}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 hold, buy, lease, sell, surrender, exchange, mortgage or otherwise deal in property; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 g}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 do all other acts and things that are incidental or conducive to, or consequential on, the attainment of its objects.
\par }\pard\plain \ltrpar\s47\qc \li0\ri0\sb120\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs48\fs24\insrsid3347805 Division 3.}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
\par Constitution.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 16.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Standard rules.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar may from time to time prepare rules, not inconsistent with this Act, for the constitution and management of societies.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 16(2) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s15.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote 
\ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 16(2) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s15.}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805 Subject to Section 17, rules made under Subsection (1), when approved by the Governor and published in the National Gazette, apply to all societies.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar shall supply a copy of the standard rules to an applicant on payment of the prescribed fee.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 17.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Supplementary rules.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 17(1) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s16.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote 
\ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 17(1) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s16.}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805 At an annual general meeting or at a special general meeting called for the purpose, a society may, by resolution passed by at least two-thirds of the members present and entitled to v
ote, make rules, not inconsistent with this Act, in addition to or amending the standard rules, and such additional rules shall be binding.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Rules made under Subsection (1) have no force until they have been approved and registered as prescribed by the Registrar.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The Registrar may direct that a society include in its rules such additional procedural rules as he thinks necessary for the efficient operation of the society.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 18.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Binding effect of Rules.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Subject to this Act, the Rules of a society bind the society and its members to the same extent as if\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
each member had subscribed his name and affixed his seal to the Rules; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 there were in the Rules a covenant on the part of himself, his successors and legal representatives to conform to the Rules.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 19.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Membership.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The membership of a society shall be limited to a group of persons having a common bo
nd of occupation, association or interest or to groups of persons residing within a well-defined community or area.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A person who is\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
one of a group of persons referred to in Subsection (1); and 
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 19(2)(b) repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s17(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 a citizen; and

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 not otherwise disqualified under this Act or the Rules,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
is qualified to be admitted as a member of a society formed in respect of the group.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Except with the written permission of the Registrar, a person shall not be a member of more than one society.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Subject to this section, a person under or apparently under the age of 21 years but above or apparently above the age of 16 years may\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 unl
ess there is provision to the contrary in the Rules\endash be a member of a society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 when a member, and subject to the Rules\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 enjoy all the rights of a member; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 execute such instruments and give such acquittances as are necessary to be execute
d or given by him under this Act or the Rules.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (5) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A person is not entitled to be or to remain a member of a society if he is in default under the terms of a loan made to him by another society.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (6)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar
\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 19(6) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s17(b).}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 19(6) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s17(b).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Board may admit to membership of a society a person who is qualified for 
membership, but he shall not exercise any of the rights of membership unless he has subscribed for at least one share and paid an amount, not being less than the initial amount prescribed by the Rules, in respect of saving deposits made for by him.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (7) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Any question as to the right of a person to be or to remain a member of a society shall be decided by the Registrar.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 20.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Group membership.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 This section applies to any body of persons (corporate or unincorporate) whose objects\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
are, in whole or in part, similar to the objects of societies; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 are not incompatible with those objects.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A body of persons to whom this section applies may become a member of a society\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
if all the members of the body are persons who are, apart from this section, eligible to be members of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 with the specific approval of the Registrar; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 on such terms and conditions as are determined by the Registrar with a view to\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 protecting the interests of other members of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 ensuring that the benefits of membership of the society are passed on to the members of the body.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 21.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Savings.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 21 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s18.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The capital of a society shall\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 be unlimited in amount; and

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 be not less than the total amount of the savings deposits of its members.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A member shall receive interest or additional interest on his savings deposits.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 22.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Lien on savings.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 22 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s19.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
In respect of any debt due from a member, past member or deceased member to a society or of a guarantee by a member, past member or deceased member of a loan under this Act, a society has a lien on\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 his savings deposits; and

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 any interest or additional interest or accumulated funds payable to him by the society,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
and may set off any sum credited or payable to him on or towards payment of the debt or satisfaction of the guarantee.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 23.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Death of member.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 23 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s20.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject t
o this Act and to the Rules, on the death of a member, the society shall transfer his savings deposit and any money due to him by way of interest or additional interest or otherwise, under this Act\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 to his nominee; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 if there is no nominee\endash to his legal personal representative; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 if there is no nominee or legal personal representative\endash to his next of kin.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 24.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Annual general meeting.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 24 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s21.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The first annual general meeting of a society shall be held within one month after the registration of the society under this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Subject to Subsection (1), the annual general meeting of a society shall be held within three months, or such other period as is determined by the Registrar, after the close of the financial year.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Where a society has a nation-wide membership, the full 
members of the Board and the Supervisory Committee elected in accordance with Section 25(2), present at the annual or special general meeting shall be a quorum and shall discuss the business of that meeting.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject to Subsection (2), the Registrar may
 extend the period within which an annual general meeting of a society is to be held, but the annual general meeting shall be held within a period of four months after the close of the financial year.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (5) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Registrar, or the representative of the Registr
ar, may be present at the annual general meeting or special general meeting of a society.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 25.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Election of Board and Supervisory Committee.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 25 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s22.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Wh
ere a society does not have a nation-wide membership, at each annual general meeting the members shall elect\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
a Board of Directors of not less than five members of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 a Supervisory Committee of not less than three members of the society who are not members of the Board.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Where a society has a nation-wide membership, the members shall elect a Board of Directors and a Supervisory Committee by ballot through a competent
 authority appointed by the Registrar.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Where the Registrar is of the opinion that a society is carrying on business detrimental to the best interests of the members, he may appoint his representatives to the Board of Directors and to the Supervisory Committee of that society.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 All members of a Board of Directors and of a Supervisory Committee (except members appointed by the Registrar) shall\endash 

\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
retire from office after the expiry of three years from the date of election; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 are eligible for re-election.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (5) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Subject to this Act, members of the Board and of the Supervisory Committee of a society hold office, cease to hold office and may be removed from office, in accordance with the Rules or may be appointed to or removed from office by the Registrar.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 26.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Loans Committees.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Rules of a society may provide for the establishment of a committee, to be known as the Loans Committee, consisting of\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 members of the Board; or

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 members of the society elected by the members,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 o
r both.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1A)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 26(1A) inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s23.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote 
\ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 26(1A) inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s23.}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805 Subject to Subsection (1), the Registrar may appoint members of the Loans Committee, if so requested by a society.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A member of the Supervisory Committee is not eligible to be a member of the Loans Committee.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A Loans Committee shall consist of not less than three members.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 27.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Remuneration.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 27 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s24.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Members of the Board, the Supervisory Committee or the Loans Committee may be paid an amount as meeting allowances determined by the annual or special general meeting.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Notice of intention to make a payment referred to in Subsection (1) shall be given to the Registrar who may, by written notice to the society, direct that the payment\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 shall be made; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 shall not be made; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 shall be varied in the manner specified in the direction.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A society shall not make a payment in contravention of a direction under Subsection (2).
\par }\pard\plain \ltrpar\s87\qj \fi-1083\li1797\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1797\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Penalty:\tab A fine not exceeding K1,000.00.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 28.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Powers of Board.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Subject to this Act and the Rules, the Board shall manage and control the business and operations of the society and, in particular, may\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote 
\ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 28(a) repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 
\ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s25(a).}}}{\rtlch\fcs1 
\af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 determine the maximum loan that may be made to any member under this Act; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 approve, defer or reject applications for membership; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 expel or discipline members in accordance with the Rules; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 28(d) repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s25(b).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
subject to Sections 42 and 48, fix interest rates on loans and savings deposits; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 e}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 determine general policy on, and security requirements for, loans under this Act; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 f}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 28(f) repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s25(c).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
subject to Section 48, recommend any interest rate in excess of 7% on savings deposits to the annual general meeting; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 g}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 fill casual vacancies among its own number; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 h}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 28(h) repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s25(d).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
appoint, suspend or terminate management of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 i}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 28(i) inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s25(d).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
subject to the approval of the Registrar, determine investment policy; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 j}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 28(j) inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s25(d).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
perform such other duties as are prescribed by this Act or the Rules.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 28A.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Functions of Board.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 28A inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s26.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Subject to this Act and the Rules, the Board of a society shall formulate, supervise and monitor the operations of the society and in particular shall\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
establish policies, systems, procedures and programmes in connection with the operations of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 manage savings deposits and loans of members in a proper manner; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 make investments of the society\rquote s funds in a professional manner; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 submit bi-annual and annual financial statements and reports to the Registrar and to the Central Bank promptly and not later than\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 in the case of bi-annual accounts and reports\endash one month;
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 in the case of annual accounts and reports\endash two months,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
after the end of the period covered by the accounts and reports; and
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 e}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
make reports to members of the society on their savings deposits and loan balances after the end of each financial year; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 f}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 perform such other functions required by or consistent with this Act and the Rules.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 28B.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Functions of Management.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 28B inserted by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s27.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Subject to this Act and the Rules, the Management of a society shall properly conduct the day-to-day operations of the society and in particular shall\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
manage the day-to-day affairs of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 implement the policies and directions of the Board; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 maintain proper records of all members of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 provide day-to-day services to members of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 e}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 manage the investments of the society in a proper and professional manner; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 f}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 undertake cash and liquidity management of the society\rquote s funds; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 g}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 undertake effective management and recovery programmes on lending operations; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 h}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 assist and supervise staff of the society in accordance with the policies and procedures of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 i}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 manage the organization and staff of the society including appointment, disciplining and termination of staff; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 j}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 provide regular returns to the Board, Supervisory Committee and the Registrar; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 k}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 provide regular reports of savings deposits and loans balances to members of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 l}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 perform such other functions as are consistent with the Act and the Rules.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 29.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Procedure on applications for loans.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject to this section, the Board\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
shall deal with applications to the society for loans; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 subject to this Act and to the Rules, may\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 29(1)(b)(i) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s28(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
approve or refuse loans for amounts up to an amount fixed by the Registrar; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 fix the rate of interest applicable to each loan.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Board shall not consider an application for a loan unless a majority of the Board is present, and a loan shall not be approved otherwise than by the u
nanimous decision of the members present.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Board shall\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote 
\ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 29(3)(a) repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 
\ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s28(b).}}}{\rtlch\fcs1 
\af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 not approve loans in excess of an amount fixed by the Registrar; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 subject to this Act determine\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 the security and guarantors required for each loan; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 the conditions of repayment of each loan.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (4)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 29(4) repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s28(c).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn 
{\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 29(4) repealed and replaced by }{\rtlch\fcs1 
\ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s28(c).}}}{
\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Board may delegate to the Loans Committee and management its powers and functions under this section a
nd Section 42(2), to be exercised and performed by the Committee and management subject to the Rules and to any policy laid down by the Board, and this section applies to the Loans Committee and management as it does to the Board.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 30.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Functions of Supervisory Committees.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 30 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s29.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The Supervisory Committee of a society is responsible for the general supervision of the operations of the society with a view to protecting the interests of the members and, in particular\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 shall\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 conduct an examination of the society\rquote s affairs and audit its books at least quarterly; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 conduct or provide for an annual audit and submit a report on the audit to the annual general meeting; and
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 may\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 call a special meeting of the society to consider any matters arising out of the examination or audit that it thinks should be placed before the members; and

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 if, in its opinion, it is necessary to do so in the interests of the society\endash 
discipline, suspend or dismiss any officer, Director, management or member of the Loans Committee of the society and report to the annual general meetin
g or special general meeting of the members, giving reasons for such disciplinary action, suspension or dismissal; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (iii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 fill casual vacancies among its own members; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (iv)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 review for reasonableness, the decisions and the management of the affairs of
 a society by the Board and management of the society; and
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
shall refer any dispute over a discipline, suspension or dismissal under Paragraph (b)(ii) to be dealt with under Section 60.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 For the purposes of Subsection (1), the Supervisory Committee m
ay inspect the books and records of the society and question any member, Director, officer or management of the society whom it has reason to believe can give information relating to the affairs or management of the society.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Supervisory Committee o
f a society shall not be involved in the management and control of the business and operations of the society referred to under Section 28A or exercise powers under Sections 15 and 28.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Supervisory Committee of a society shall be entitled to receive
 any information from the Board or management of the society to perform its functions.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (5) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Where, for any reason, the Registrar is of the opinion that a Supervisory Committee is following improper practices, he may
\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
suspend or dismiss a member or members of the Supervisory Committee; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 appoint a new member or members in their stead in accordance with Section 3A.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 31.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Votes of members.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A question arising at a meeting of a society, or of the Board, the Loans Committee or the Supervisory Committee
 of a society, shall, except where otherwise provided by this Act or the Rules, be determined by a majority of members of the society, Board or Committee, as the case may be, personally present at the meeting.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject to the Rules and to Subsection (3)
, a member of a society, or of the Board, the Loans Committee or the Supervisory Committee of a society, attending a meeting of the society, Board or Committee, as the case may be, has one vote, and a member may not vote by proxy.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The member presiding at a meeting of a society, or of the Board, the Loans Committee or the Supervisory Committee of a society, has a deliberative and, in the event of an equality of votes on a matter, also a casting vote.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 32.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Minutes.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Minutes of meetings of a society, and of the Board, the Loans Committee and the Supervisory Committee of a society, shall be kept as prescribed.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 32(2) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s30.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar 
\pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 32(2) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s30.}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805 The Registrar may require copies of minutes referred to in Subsection (1) to be made available to him.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 33.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Fines.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 A society may, in the manner prescribed by the Rules, impose a fine, not exceeding such amount as is fixed by the Registrar in the standard rules, for an infringement of the Rules.
\par }\pard\plain \ltrpar\s47\qc \li0\ri0\sb120\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\ai\af39\afs26\alang1025 \ltrch\fcs0 \b\i\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs48\fs24\insrsid3347805 Division 4.}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
\par Conversion of Co-operative Companies.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 34.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Registration of co-operative companies as societies.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A co-operative company may, as prescribed, apply to the Registrar for registration as a society under this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Notice of an application under this section shall be given by the company to the Registrar of Companies.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Where application is made to the Registrar under this section and the Registrar is of the opinion that the company is suitable for registration and may conveniently be registered under this Act, he may give such directions as he thinks necessary for the r
econstitution of the company and for enabling its registration under this Act.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
No act, matter or thing done or performed by a co-operative company or a member of such a company in or towards compliance with any directions of the Registrar under this section is a ground for any action or proceeding under the }{\rtlch\fcs1 
\ai\af39\afs24 \ltrch\fcs0 \cs103\i\fs24\insrsid3347805 Companies Act 1997}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 .
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (5) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Where a company\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
withdraws its application under this section; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 does not comply with the directions of the Registrar within such time as the Registrar thinks reasonable,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
the Registrar may, by written notice to the applicant and to the Registrar of Companies, cancel the application, and thereupon the provisions of Subsection (4) do not apply to or in relation to the company or its members except as to acts, matters or t
hings done or performed before the date of the notice but after the date of the application.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (6) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 On compliance with the directions of the Registrar under this section, the Registrar may register a co-operative company as a society under this Act.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (7) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Notice of the registration of a society under this section shall be given to the Registrar of Companies.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (8) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
On registration by virtue of this section of a co-operative company as a society under this Act, the registration of the company under the }{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs103\i\fs24\insrsid3347805 Companies Act 1997}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805  is cancelled without the necessity for winding-up under that Act.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (9) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
A right of any kind that was enforceable by or against a co-operative company immediately before its registration under this Act by virtue of this section is, on that registration, enforceable by or against the society as registered under this Act.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (10) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
All the estate, right, title and interest, legal or equitable, in and to any property vested in a co-operative company immediately before its registration under this Act by virt
ue of this section is, on that registration, and without the necessity of any formal deed of assurance, divested from the company and vested in the society as registered under this Act.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (11) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Where any property vested in a society under this section is land registered under the }{\rtlch\fcs1 \ai\af39\afs24 
\ltrch\fcs0 \cs103\i\fs24\insrsid3347805 Land Registration Act 1981}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
, the Registrar of Titles shall, without formal transfer and without fee, on application by the society, enter or register the society in the appropriate Register and on the grant, certificate of title, lease
 or other instrument evidencing title to the land as the owner of the land within the meaning of that Act.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid3347805 PART IV. \endash  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 ASSOCIATIONS.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 35.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Registration of associations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject to this Part, any two or more societies desiring to federate with the objects of\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
assisting in the development of societies generally or in a particular area; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 conducting activities on behalf of the members of all or some of them that may contribute to their common benefit; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 promoting interest and co-operation between other societies and similar organizations, whether within or outside the country; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 furthering the common interests of their members for the benefit of them or their members,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
or with any of those objects, may, in the prescribed manner, apply for registration as an association of societies.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 If the Registrar is satisfied that\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
the rules of the proposed association comply with this Act; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 there is no objection to the formation of the association,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
he may register the association and issue a certificate in the prescribed form that the association is incorporated under this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Section 13(1) and (2) apply to and in relation to an association.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 An association shall not be or become a member of 
another association, other than the Federation, without the consent of the Registrar.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 36.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Boundaries, etc., of associations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Where an association, or electorates or divisions of an association, is or are defined, or is or are proposed to be defined, by or 
by reference to geographical boundaries, any resolution or other act proposing, fixing or altering any such boundary is of no effect until confirmed by the Registrar.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 37.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Names of associations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Sections 11(2) and (3), 12 and 13(3) apply to and in relation to an association.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The Registrar may, by notice in the National Gazette, authorize one association to take the title of the Federation of Savings and Loan Societies Limited and may, by notice in the National Gazette, revoke the authorization.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
An association other than the Federation shall, unless the Registrar otherwise approves, be known as a League of Savings and Loan Societies.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 38.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Rules of associations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The Rules of the Federation shall be as approved by the Registrar.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Section 16, with the necessary modifications, applies to and in relation to the Rules of an association.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 39.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Liability of members of associations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Subject to the Rules of the association, the liability of a member of an association is limited to any amount due to the association for any contribution or levy payable to the association in accordance with the Rules.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 40.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Powers of associations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject to this Act, Section 15 applies to and in relation to an association.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 In addition to the powers conferred on it by 
this Act, the Federation has power, with the approval of the Registrar, to conduct a scheme for the protection of the funds of its constituent societies.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 41.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Employees.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 In addition to its other powers and functions under this Act, an association may, with 
the approval of the Registrar and subject to such conditions as are prescribed or as are imposed in the Rules, employ such persons as it thinks necessary for the performance of its functions.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid3347805 PART V. \endash  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 MANAGEMENT AND FINANCE.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 42.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Loans.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 42 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s31.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Loans to members may be made by a society in accordance with this section and subject to directions and guidelines issued from time to time by the Registrar.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
A loan may be made by a society (other than an association) only to a member of the society, and in the manner prescribed in the Rules, to assist the member for purposes as specified in the Rules and subject to any directions of the Gover
nor and for any other purpose approved by the Registrar.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Subject to this Act, a loan under this Act shall be made on such conditions as the Board of the society making the loan determines in any particular case.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A member of the Board, the Loans Com
mittee or the Supervisory Committee of a Society shall not be granted a loan of an amount exceeding, or that would when aggregated with any other amounts then owing by the member to the society exceed, the value of his savings deposits, except on separate
 resolutions by the Board, the Loans Committee and the Supervisory Committee, made at meetings at which the member is not present.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (5) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The interest rate on a loan made by a society shall not exceed 1% per month on the unpaid balance of the loan.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (6) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A socie
ty may charge any interest in excess of 1% per month on the unpaid balance of a loan, subject to the approval of the Registrar.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (7) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Notwithstanding Subsections (5) and (6), a society may in any case charge a minimum amount of interest of K2.00 per month.

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (8) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Interest may be calculated to the nearest whole month during which a portion of the loan remains unpaid.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (9) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Any interest charged on the loan under Subsections (5) or (6), not repaid for six months after the last date of repayment, cease to accumulate any additional interest in the member\rquote 
s loan account but shall continue to be charged to the interest suspense account.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (10) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A society may charge a levy or fee for the administration of a loan account, subject to the approval of the Registrar.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (11) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A borrower may repay his loan in whole or in part on any day on which the office of the society is open for business.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (12) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 All money due to a society by a member is a debt due from him to the society.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (13) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject to Subsection (14), all monies due to a society b
y a member, not being repaid for 18 months after the last date of repayment, shall be provided as a bad debt of the member.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (14) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The society shall continue to recover from a member moneys referred to in Subsection (13).
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 43.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Loans by associations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject to Subsection (2), a loan under this Act may be made by an association\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 in the case of a League
\endash to a member of the League; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 in the case of the Federation\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 to an association; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 to a member of an association; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (iii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 to a society,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
that is a member of the Federation.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A loan referred to in Subsection (1) may be made only subject to and in the manner prescribed by the Rules and\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
for the furtherance of the objects of the lending association; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 on such conditions as are approved by the Registrar, for the furtherance of the objects of the member to which the loan is or is to be made.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 44.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Limitation on loans.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Notwithstanding this Act, the Registrar may, by written notice to a society (other than an association), limit the total amount that may be outstanding at any time by way of loan to a member of the society.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 45.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Borrowing.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 45 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s32.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
With the approval of the Registrar, a society may raise money, by way of mortgage of its assets or otherwise, up to an amount not exceeding, or that would when aggregated with any other amount borrowed by the society and then outstanding not exceed 25% of
 the sum, at the time of borrowing, of money deposited with it under Section 46.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
This section does not apply to or in relation to a loan raised by an association, and an association may raise loans under Section 15(c) only with the approval of the Registrar and subject to such conditions as he determines.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
The Registrar may from time to time issue directions and guidelines on borrowing by a society, and any borrowing by a society shall be in accordance with such directions and guidelines.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 46.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Deposits.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A society may accept money on deposit from its members.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Subject to the approval of the Registrar, the conditions under which deposits may be accepted and repaid and the rates of interest that may be paid on deposits shall be determined by the Board.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 47.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 General Reserve Fund.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 47(1) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s33(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote 
\ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 47(1) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s33(a).}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805 
A society shall maintain a General Reserve Fund into which shall be paid such income of the society, other than contributions for savings deposits, repayments of and interest on loans and income from investments, as is specified in the Rules for the purpo
se.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 47(2) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s33(b).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote 
\ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 47(2) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s33(b).}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805 Subject to Subsection (3), a society shall,
 at the end of each financial year and before declaring additional interest, set aside for payment into the General Reserve Fund at least 20% of the net earnings of the society for that year.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A society shall not be required to set aside or pay into the
 General Reserve Fund under this section a sum that, when aggregated with the amount standing to the credit of the Fund, would exceed 10% of the total liabilities (actual and contingent) of the society.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Money standing to the credit of the General Reserve Fund may be invested\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
in any securities of, or guaranteed by, the State; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 in any manner in which a trustee may by law invest trust money in his hands; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 47(4)(c) repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s33(c).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
on deposit with a bank or licensed financial institution; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 in any other prescribed manner.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (5) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Any income earned by the investment of money under Subsection (4) shall be paid into the general revenue of the society.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (6) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 The General Reserve Fund of a society\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
shall be held as a reserve against bad loans or losses other than operating deficits; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 shall not be used for any other purpose except on the winding-up of the society.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (7) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 This section does not, unless otherwise provided in the Rules, apply to or in relation to an association.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 48.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Interest.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 48 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s34.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Subject to this Act and the Rules, a society may pay interest on a member\rquote s savings deposits.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Except with the approval of the Registrar, interest in excess of 7% per annum shall not be paid under this section.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 49.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Books of account.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 A society shall keep such books and accounts in the form prescribed or as the Registrar directs.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 50.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Annual statements.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Not later than two months
 after the end of each financial year, each society shall send to the Registrar an audited statement of the receipts and expenditure, assets and liabilities of the society and such other information as is required by the Registrar.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 50(2) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s35.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar 
\pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 50(2) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s35.}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805 In addition to information required under Subsection (1), a society shall submit
 to the Registrar its bi-annual accounts, no later than one month after the expiry of the period to which those accounts relate, and such other accounts and information as required by the Registrar.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid3347805 PART VI. \endash  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 WINDING-UP.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 51.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Order for winding-up.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subject to this Act, the Registrar may, by notice in the National Gazette, order the winding-up of a society, where\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
at least two-thirds of the members request, in the prescribed manner, that the society be wound up; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 except in the case of an association\endash the number of members is reduced below 20 and the Registrar is of opinion that the society is unable to operate efficiently; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the society has not commenced business within six months from the date of its registration under this Act, or has suspended business for a period of more than six months; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the period (if any) fixed for the duration of the society has expired; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 e}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 an event has occurred on the occurrence of which the regulations or the Rules provide that the society shall be wound up; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 f}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the registration of the society has been obtained by mistake or fraud; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 g}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the society exists for an illegal purpose; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 h}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the society has wilfully, and after notice from the Registrar, contravened or failed to comply with this Act or the Rules; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 i}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the society is unable to pay its debts; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 j}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 a creditor of the society referred to in Subsection (2) requests, in the prescribed manner, that the society be wound up; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 k}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 in the case of an association\endash the Registrar is of opinion that the association is unable to operate efficiently; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 l}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 in the opinion of the Registrar, it is in the best interests of the members that the society should be wound up; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 m}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 51(1)(m) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s36(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
accumulated losses of a society have eroded members\rquote  savings deposits; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 n}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 51(1)(n) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s36(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
irregularities disclosed by the inspection and audit are serious in nature and remedial actions taken do not achieve normality of operations of a society.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A society shall be deemed to be unable to pay its debts where\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote 
\ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 51(2)(a) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s36(b).}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 a creditor to whom the society is indebted in an amount exceeding K100.00 then due has served on the soc
iety a demand under his hand requiring the society to pay the sum so due and the society has, for the period of four weeks after the service of the demand, failed or neglected\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 to pay the amount; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 to secure or compound for the amount to the reasonable satisfaction of the creditor; or
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
execution issued on a judgement of a court in favour of a creditor of the society is returned unsatisfied in whole or in part; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 it is shown to the satisfaction of the Registrar that the society is unable to pay its debts.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 52.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Liquidator.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 In the notice ordering the winding-up of a society or in a subsequent notice, the Registrar may appoint a competent person to be the liquidator of the society.

\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A liquidator appointed under Subsection (1)\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
has such powers, functions and duties; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 shall give such security; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 shall be paid such fees,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
as are prescribed.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (3)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 52(3) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s37.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar 
\pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 52(3) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s37.}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805 The Registrar may require a liquidator to furnish to him progressive reports on the winding-up of the society.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar
\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 52(4) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s37.}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 52(4) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s37.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Where the Registrar is unable to appoint a liquidator under Subsection (1), he may proceed with the winding-up of the society under Section 53.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 53.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Commencement of winding-up.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
For the purposes of this Act, the winding-up of a society commences on the date of publication in the National Gazette of the order by the Registrar for the winding-up.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 53(2) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s38.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar 
\pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 53(2) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s38.}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \fs24\insrsid3347805 The Registrar may determine the period of winding-up of a society, but such period shall not exceed three years.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 54.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Liability of past and present members on winding-up.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Where a society is being wound up under this Act, every past and present member is, subject to this section, liable to contribute to the assets of the society an amount sufficient for payment of\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
the debts and liabilities of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the costs, charges and expenses of the winding-up; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 any sums required for the adjustment of the rights of the contributories among themselves.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
A past member is not liable to contribute to the assets of the society if he had ceased to be a member for one year or more before the commencement of the winding-up.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A past member is not liable to contribute to the assets of the society in respect of 
any of its debts or liabilities that were contracted after he ceased to be a member.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (4) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
A past member is not liable to contribute to the assets of the society unless it appears to the liquidator that the existing members are unable to make the contributions required to be made by them in order to satisfy all just demands on the society.

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (5)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar
\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 54(5) repealed by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s39(a).}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 [}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \i\fs24\insrsid3347805 Repealed}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 .]
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (6)}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar
\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 54(6) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s39(b).}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs113\fs24\insrsid3347805  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 54(6) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s39(b).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
A sum due to a member as such, by way of interest, profits or otherwise, shall not be deemed to be
 a debt of the society payable to the member in the case of competition between him and any other creditor who is not a member, but any such sum may be taken into account for the purpose of the final adjustment of the rights of contributories among themse
lves.
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs113\fs24\insrsid3347805 (7) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
This section does not affect any right of the liquidator or the society to the recovery of any debt due to the society by any person.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 55.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Association taking over liabilities, etc., of society in liquidation.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 With the approval of the Registrar, and subject to such conditions as he imposes, an association may accept the transfer by the liquidator of a society of all or any of the assets and liabilities of the society.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 56.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Return by liquidator.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 The liquidator of a society must, within one month after the affairs of the society have been fully wound up, send to the Registrar an account and balance-sheet\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
signed and certified by the liquidator as correct; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 showing\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 the assets and liabilities of the society at the commencement of the winding-up; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 the mode in which the assets and liabilities have been applied and discharged.
\par }\pard\plain \ltrpar\s87\qj \fi-1083\li1797\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1797\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Penalty:\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 56: Penalty clause amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s40.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
A fine not exceeding K1,000.00, and in addition a fine not exceeding K20.00 for every day during which the offence continues.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 57.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Dissolution.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 A society is not dissolved until\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote 
\ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 57(a) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 
\i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s41.}}}{\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
a certificate, signed by the Registrar, that all property vested in the society has been duly transferred by the society to the persons entitled to it; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the statement and balance sheet referred to in Section 56,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
have been received by the Registrar.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 58.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Cancellation of registration.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 As soon as practicable after the dissolution of a society, the Registrar shall\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 register the dissolution; and

\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 cancel the registration of the society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 cause to be published in the National Gazette notice of the dissolution and of the cancellation of the registration of the society.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\caps\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid3347805 PART VII. \endash  }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 MISCELLANEOUS.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 59.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Inspection of documents.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A person may, on payment of the prescribed fee\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
inspect at the office of the Registrar the certificate of registration and the Rules of a society; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 obtain from the Registrar a certified copy of the certificate of registration of a society and a certified copy of its Rules; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 59(1)(c) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s42(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
with the permission of the Registrar, inspect at his office and obtain from him a certified copy of, or extract from, the register of Directors, members or savings deposits of a society and the last statement of receipts and expenditure, assets and liabil
ities, together with the report on the annual audit referred to in Section 30(1), of a society.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 At all reasonable times and without fee, a member or creditor of a society may, at the office of the society, inspect and take extracts from\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 copies of t
his Act, the regulations and the standard rules; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 a copy of the Rules; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 a copy of the last statement of receipts and expenditure, assets and liabilities, together with the report on the annual audit referred to in Section 30(1); and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 59(2)(d) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s42(b).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
the register of Directors, members or savings deposits; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 e}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the register of loans raised and securities given by the society.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 60.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Disputes.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Where a dispute concerning the business of a society arises\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
among members, past members and persons claiming through members, past members or deceased members; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 between a member, past member or person claiming through a member, past member or deceased member and the society, the Board or an officer of the society; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 60(c) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s43(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
between the society or the Board and an officer, Director, management or staff of the society; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 between the society and any other society; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 e}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 60(e) added by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s43(b).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 bet
ween the Supervisory Committee of the society and the member, officer, Director, management or member of the Loans Committee of the society,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
it shall be referred to the Registrar for decision.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 61.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Judicial notice.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 All courts, Judges and persons acting judicially shall take judicial notice of the seal of the Registrar or the seal of a society affixed to a document, and shall presume that it was duly affixed.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 62.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Appeals.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
A person aggrieved by a decision of the Registrar or of a liquidator may, within 30 days after the decision or within such further time as the National Court in any particular case allows, appeal as prescribed to the National Court, whose decision is fina
l.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 On an appeal under Subsection (1), the National Court may make such order, including an order as to the costs of the appeal, as it thinks proper.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 63.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Unauthorized savings and loan societies.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A person who\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
forms or takes part in the formation of; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 manages or takes part in the management of; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 carries on the business of,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
a savings and loan society otherwise than in accordance with this Act is guilty of an offence.
\par }\pard\plain \ltrpar\s87\qj \fi-1083\li1797\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1797\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Penalty:\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 63(1): Penalty clause amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s44(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A fine not exceeding K10,000.00
\par Default penalty:\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 
\af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 63(1): Default penalty clause amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s44(a).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A fine not exceeding K50.00.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 In Subsection (1), }{\rtlch\fcs1 \ab\af39\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid3347805 \'93savings and loan society\'94}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805  means any association, organization or body (corporate or unincorporate) the objects or some of the objects of which are\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 the raising of a fu
nd by subscriptions of its members; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the making of loans or the granting of credit out of the fund to its members.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (3) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 Subsection (1) does not apply to or in relation to\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
a corporation within the meaning of the }{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs92\i\fs24\insrsid3347805 Companies Act 1997}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 ; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 63(3)(b) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s44(b).}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
the Rural Development Bank of Papua New Guinea or a bank within the meaning of the }{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs92\i\fs24\insrsid3347805 Banks and Financial Institutions Act 2000}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 .

\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 64.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Prohibition on use of title.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 A person other than a society who trades or carries on business under any name or title of which the words \'93Savings and Loan\'94 or \'93Credit Union\'94
, or any other words importing a similar meaning, form part is guilty of an offence.
\par }\pard\plain \ltrpar\s87\qj \fi-1083\li1797\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1797\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Penalty:\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 64: Penalty clause amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s45.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A fine not exceeding K10,000.00.
\par Default penalty:\tab A fine not exceeding K100.00.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 65.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Default by society.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (1) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A society that fails\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
to keep any register, account or document, or to make any entry in a register, account or document, in accordance with the requirements of this Act; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 to have at its office and open for inspection copies of\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid3347805 (i)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 this Act, the regulations and the standard rules; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (ii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 the Rules; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (iii)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
the last statement of receipts and expenditure, assets and liabilities, together with the report on the annual audit referred to in Section 30(1); and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs111\fs24\insrsid3347805 (iv)\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 any register,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
as required by this Act; or
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
to transmit to the Registrar any notice or return as required by this Act,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
is guilty of an offence.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid3347805 (2) }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A society that uses a name other than the name by which it is registered under this Act is guilty of an offence.
\par }\pard\plain \ltrpar\s87\qj \fi-1083\li1797\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1797\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Penalty:\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 65(2): Penalty clause amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s46.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A fine not exceeding K10,000.00.
\par Default penalty:\tab A fine not exceeding K100.00.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 66.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Obstruction, etc.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 A person who\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
hinders or obstructs a person in the exercise of his powers or the performance of his functions under this Act; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 refuses or fails, without reasonable excuse (proof of which is on him), to comply with a notice, order, direction or requirement given or made under this Act; or
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 refuses or fails, without reasonable excuse, to answer questions asked of him under this Act,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
is guilty of an offence.
\par }\pard\plain \ltrpar\s87\qj \fi-1083\li1797\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1797\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Penalty:\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 
\rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 66: Penalty clause amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{
\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s47.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 A fine not exceeding K1,000.00.
\par Default penalty:\tab A fine not exceeding K50.00.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 67.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Liability of Directors, etc.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 67 repealed and replaced by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 
\af0\afs20 \ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s48.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
Where a society contravenes or fails to comply with a provision of this Act, each of the Directors and officers of the society shall be deemed to have contravened or failed to comply with the provision, and where contravening or failing to comply with a p
rovision constitutes an offence against this Act, are guilty of that offence.
\par }\pard\plain \ltrpar\s87\qj \fi-1083\li1797\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1797\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 Penalty:\tab A fine not exceeding K1,000.00.
\par Default penalty:\tab A fine not exceeding K50.00..
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af39\afs26\alang1025 \ltrch\fcs0 \b\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid3347805 68.\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \caps\fs24\insrsid3347805 Regulations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 The Head of State, acting on advice, may make regulations, not inconsisten
t with this Act, prescribing all matters that by this Act are required or permitted to be prescribed, or that are necessary or convenient to be prescribed for carrying out or giving effect to this Act, and in particular for prescribing\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 \f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 a}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 the powers and 
duties of the Registrar; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 b}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the notices to be given, returns and reports to be made and records to be kept under this Act, and the form of such notices, returns, reports and records; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 c}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the fees (if any) to be paid in connection with a matter arising under this Act; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 d}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )\tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\fs24\insrsid3347805 the manner of doing any act or thing required by this Act to be done; and
\par }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 (}{\rtlch\fcs1 \ai\af39\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid3347805 e}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 )}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 
\cs18\fs24\super\insrsid3347805 \chftn {\footnote \ltrpar \pard\plain \ltrpar\s17\ql \fi-360\li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af39\afs26\alang1025 \ltrch\fcs0 
\f39\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \cs18\f0\fs20\lang1033\langfe1033\super\langnp1033\insrsid3347805 \chftn \tab }{\rtlch\fcs1 \af0\afs20 \ltrch\fcs0 
\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Section 68(e) amended by }{\rtlch\fcs1 \ai\af0\afs20 \ltrch\fcs0 \i\f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805 Savings and Loans Societies (Amendment) Act}{\rtlch\fcs1 \af0\afs20 
\ltrch\fcs0 \f0\fs20\lang1033\langfe1033\langnp1033\insrsid3347805  1995 (No. 24 of 1995), s49.}}}{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \cs82\fs24\insrsid3347805 \tab }{\rtlch\fcs1 \af39\afs24 \ltrch\fcs0 \fs24\insrsid3347805 
penalties of fines not exceeding K1,000.00 for offences against the regulations, and in addition in the case of continuing offences a fine not exceeding K50.00 for every day during which the offence continues.
\par 
\par 
\par Office of Legislative Counsel, PNG
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