Section 20 Advances to members.
Without prejudice to any provision included by virtue of section 11, the rules of a registered society may provide for advances of money to members—
(a)
on the security of real or personal property; or
(b)
if the society is registered to carry on banking business, in any manner customary in the conduct of such business.
Notes on the whole Act
Textual amendments
- F1
Act: "The Industrial and Provident Societies (N.I.) Act 1969 may be cited as The Co-operative and Community Benefit Societies Act (N.I.) 1969" (6.4.2018) by virtue of Credit Unions and Co-operative and Community Benefit Societies Act (NorthernIreland) 2016 (c. 16), ss. 8(2), 17(2) (with Sch. 2 paras. 2, 3); S.R. 2017/217, art. 2(b)
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