1968 Ed.]
Credit Unions.
[CAP. 119
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(b) on a resolution, passed by at least two-thirds of the members of the board of the League, determining the amount of the loan and the conditions under which it is to be provided.
(4) Section 43 shall not apply in respect of any such loan. 12A
73. Save in so far as is otherwise provided in this Part, sections 10, 49, 52, 53, 54, 76, 77, 80 and 81 shall, to the extent that they are applicable, apply to the League as though it were a credit union.
74. Nothing in this Part shall affect or be deemed to affect the rights of Her Majesty the Queen, Her Heirs or Successors, or the rights of any body politic or corporate or of any other persons except such as are mentioned in this Part and those claiming by, from or under them.
PART XII.
OFFENCES AND PENALTIES.
Application of other sections to League.
Saving.
75. (1) Save as is provided in paragraphs (a) and (b) of Illegal loans. section 10, any director or any member of the supervisory committee or of the credit committee of a credit union, or any loan officer thereof, who knowingly makes or permits the making of a loan from any fund of the credit union to any person who is not a member of the credit union shall be guilty of an offence and shall be liable on conviction to a fine of three thousand dollars and to imprisonment for one year.
(2) A person who is convicted of an offence under subsection (1) shall be liable to the credit union for the amount so loaned, and the illegality of such a loan shall be no defence in any proceedings by the credit union for the recovery of that amount.
76. Any person who makes any return or furnishes any information, statement, record, or other document required by this Ordinance to be made or furnished to the Registrar knowing the same to be in any respect false or insufficient shall be guilty of an offence.
77. Any officer of a credit union, or any person entrusted with or participating in the management thereof, who discloses to any person any information regarding a transaction of a member of that credit union therewith, save in so far as may be necessary for the proper conduct of the business of that credit union, shall be guilty of an offence.
78. Any person who-
(a) contravenes the provisions of subsection (2) of section 57;
or
False returns to Registrar.
Prohibition of disclosure of certain information.
Failure to report resolution for winding-up.