Co-operative Societies Regulations (Amendment) (ACT)

Regulations 1990   No. 111

Co-operative Societies Regulations2 (Amendment)

The Australian Capital Territory Executive hereby makes the following Regulation under the Co-operative Societies Act 1939.

Dated 17th July 1990.

TREVOR T. KAINE

Chief Minister

CRAIG DUBY

Minister

Loan limits—registered credit societies

Regulation 2AF of the Co-operative Societies Regulations is amended—

(a)by omitting from paragraph (1) (b) “$15,000” and substituting “$20,000”;

(b)by omitting from subregulation (2) “$7,000” and substituting “$20,000”;

(c)by omitting from subregulation (3) “$20,000” and substituting “$30,000”;

(d)by omitting from paragraph (4) (a) “$20,000” and “15 years” and substituting “$30,000” and “20 years” respectively;

(e)by omitting paragraph (4) (b) and substituting the following paragraph:

“(b)in any other case—

(i)30 years; or

(ii)where the Board is satisfied that the member is experiencing financial difficulty—35 years.”; and

(f)by omitting from subregulation (5) “5 years” and substituting “7 years”.

NOTES

1. Notified in the ACT Gazette on 30 July 1990.

2. Regulations 1945 No. 2 as amended by 1956 No. 13; 1979 Nos. 24 and 27; 1980 No. 3; 1982 Nos. 52 and 53; 1985 Nos. 8 and 18; 1986 Nos. 1, 2 and 25; 1987 No. 12; Ordinance No. 21, 1989.

©  Australian Capital Territory 1990