Part II Incorporated Friendly Societies
Powers of incorporated friendly societies
16 Assistance to subsidiaries and jointly controlled bodies.
(1)
An incorporated friendly society may provide its subsidiaries or bodies which it jointly controls with any of the following services—
(a)
loans of money, with or without security and whether or not at interest;
(b)
the use of services or property, whether or not for payment;
(c)
grants of money, whether or not repayable; and
(d)
guarantees of the discharge of their liabilities.
(2)
An incorporated friendly society may make payments towards the discharge of the liabilities of any of its subsidiaries.