Loans made by a registered society

(1) A registered society shall not, except as provided in section 33 of this Act, make any loan to any person other than a member, but with the consent of the Registrar, a registered society may make loans to another registered society. 17 (2) Except with the permission of the Registrar, a registered society shall not lend money on the security of any personal property other than produce or goods in which the society is authorised to deal. (3) The Minister may, by general or special order, prohibit or restrict the lending of money on mortgage of any description of real property by any registered society.