State aid to Societies

Properties and Funds of Societies

("State aid to Societies") The Government may, subject to the rules,—

1. (a) give loans or advance moneys to a society ;
2. (b) subscribe to the share capital of a society ;
3. (c) provide moneys to a society-
   • (i) for the purchase of shares of other societies ; or
   • (ii) to enable it to provide moneys to another society to purchase shares in other societies ;
4. (d) guarantee the repayment of principal and payment of interest on debentures issued by a society ;
5. (e) guarantee the repayment of share capital of a society and dividends thereon at such rates as may be specified by the Government ;
6. (f) guarantee the repayment of principal and payment of interest on loans and advance of moneys to a society ;
7. (g) guarantee the repayment of deposits received by a society and payment of interest on such deposits subject to such terms and conditions as may be laid down by the Government ; and
8. (h) give financial aid in any other form including subsidies to any society.