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PART IIN.I.REGISTERED SOCIETIES

N.I.Membership and special provisions affecting members

20Advances to members.N.I.

Without prejudice to any provision included by virtue of section 11, the rules of a registered society may provide for advances of money to members—

(a)on the security of real or personal property; or

(b)if the society is registered to carry on banking business, in any manner customary in the conduct of such business.