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Membership and special provisions affecting membersE+W+S

21 Advances to members.E+W+S

Without prejudice to any provision included by virtue of section 12 of this Act, the rules of a registered society may provide for advances of money to members—

(a)on the security of real or personal property or, in Scotland, of heritable or moveable estate; or

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