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Article 6 Relaxation of limits on loans

Original text. Later amendments are not shown.

In the 1979 Act—

(a)

section 11(3) (which prohibits a loan to a non-qualifying member if his total liability to the credit union would exceed his total paid-up shareholding in it) and

(b)

in section 5(8), the words “, subject to section 11(3) below”,

are hereby repealed.