Co-operative Societies Regulations (Amendment) (ACT)

AUSTRALIAN CAPITAL TERRITORY

Regulations    1986    No. 25¹

Co-operative Societies Regulations² (Amendment)

I, GORDON GLEN DENTON SCHOLES, the Minister of State for Territories, hereby make the following Regulation under the Co-operative Societies Ordinance 1939.

Dated 19 November 1986.

G. SCHOLES

Minister of State for Territories

Schedule 2

Schedule 2 to the Co-operative Societies Regulations is amended by omitting item 21 and substituting the following items:

“21	Shares or other investments in a subsidiary corporation of the society or loans made to a subsidiary corporation of the society where—	10.0
(a)   the subsidiary corporation is engaged exclusively in the business of providing administrative or financial services; and (b)   in the case of loans—the loans are not secured by mortgage over property to a value equivalent to the amounts of the loans
“21A	Shares or other investments in a subsidiary corporation of the society or loans made to a subsidiary corporation of the society where—	20.0
(a)   the subsidiary corporation is not engaged exclusively in the business of providing administrative or financial services; and (b)   in the case of loans—the loans are not secured by mortgage over property to a value equivalent to the amounts of the loans”.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 1 December 1986.

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 and 2.