Australian Capital Territory Numbered Regulations

CO-OPERATIVE SOCIETIES REGULATIONS (AMENDMENT) (NO. 2 OF 1986)

TABLE OF PROVISIONS

           

After regulation 2AE of the Co-operative Societies Regulations the following regulation is inserted:

“2AF. (1) The amount prescribed for the purposes of sub-section 14G (1) of the Ordinance is—

(a) where the amount shown in the last audited balance sheet of the registered credit society as the value of the assets of the society is not less than $2,000,000—1% of that amount; or

(b) in any other case—$15,000.

“(2) The amount prescribed for the purposes of sub-section 14G (1A) of the Ordinance is $7,000.

“(3) The amount prescribed for the purposes of sub-section 14G (1D) of the Ordinance is $20,000.

“(4) For the purposes of sub-paragraph 14G (2) (a) (i) of the Ordinance the prescribed period is—

(a) in the case of a loan not exceeding $20,000 in respect of which a member has given security, other than by way of mortgage—15 years; and

(b) in any other case—30 years.

“(5) For the purposes of sub-paragraph 14G (2) (a) (ii) of the Ordinance the prescribed period is 5 years.”.