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.