1964_CREDIT_UNIONS_ORDINANCE — Page 3

HK Historical Laws 香港歷史法例 All AI Reviewed
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2

CAP. 119]

Credit Unions.

(1968 Ed.

Section.

Page.

28. Election and tenure of office of board of directors and committees

12

29. Meetings of board and committees, and appointment of officers and procedure

13

30. Officers of a credit union

14

31. Composition of the committees

14

32. Remuneration

14

PART V.

MANAGEMENT.

Powers and duties of board.

33. Powers and duties of the board

14

Powers and duties of supervisory committee.

34. Powers and duties of supervisory committee

15

Powers and duties of credit committee.

35. Powers and duties of credit committee

15

36. Approval of loans

15

37. Acceptable security for loans

15

38. Loan officers

16

PART VI

LOANS, BORROWING, RESERVE FUND AND DIVIDENDS.

Loans to members.

39. Purposes of loans

16

40. Restrictions on loans

16

41. Rates of interest

16

42. Unanimous vote required for loans to directors or committee members

17

43.

44. Borrowing powers.

Borrowing powers

17

Power to mortgage, etc., as security for borrowed money

17

45. Reserve fund

Reserve fund.

18

Dividends.

46. Declaration, limit and payment of dividend

18

PART VII.

BY-LAWS.

47. By-laws

19

48. Amendment of by-laws

19

49. Binding effect of the by-laws

19

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2 CAP. 119] Credit Unions. (1968 Ed. Section. Page. 28. Election and tenure of office of board of directors and committees 12 29. Meetings of board and committees, and appointment of officers and procedure 13 30. Officers of a credit union 14 31. Composition of the committees 14 32. Remuneration 14 PART V. MANAGEMENT. Powers and duties of board. 33. Powers and duties of the board 14 Powers and duties of supervisory committee. 34. Powers and duties of supervisory committee 15 Powers and duties of credit committee. 35. Powers and duties of credit committee 15 36. Approval of loans 15 37. Acceptable security for loans 15 38. Loan officers 16 PART VI LOANS, BORROWING, RESERVE FUND AND DIVIDENDS. Loans to members. 39. Purposes of loans 16 40. Restrictions on loans 16 41. Rates of interest 16 42. Unanimous vote required for loans to directors or committee members 17 43. 44. Borrowing powers. Borrowing powers 17 Power to mortgage, etc., as security for borrowed money 17 45. Reserve fund Reserve fund. 18 Dividends. 46. Declaration, limit and payment of dividend 18 PART VII. BY-LAWS. 47. By-laws 19 48. Amendment of by-laws 19 49. Binding effect of the by-laws 19
Baseline (Original)
2 CAP. 119] Credit Unions. (1968 Ed. Section. Page. 28. Election and tenure of office of board of directors and committees 12 29. Meetings of board and committees, and appointment of officers and procedure 13 → 30. Officers of a credit union 14 31. Composition of the committees 14 32. Remuneration 14 ▼ PART V. MANAGEMENT. Powers and duties of board. 33. Powers and duties of the board 14 Powers and duties of supervisory committee. 34. Powers and duties of supervisory committee 15 Powers and duties of credit committee. 35. Powers and duties of credit committee 36. Approval of loans ... 37. Acceptable security for loans 38. Loan officers :: 15 15 *** 15 16 PART VI LOANS, BORROWING, RESERVE FUND AND DIVIDENDS. Loans to members. 39. Purposes of loans ... 40. Restrictions on loans *** 41. Rates of interest 42. Unanimous vote required for loans to directors or committee members 43. 44. Borrowing powers. Borrowing powers .. Power to mortage, etc, as security for borrowed money 45. Reserve fund Reserve fund. Dividends. 46. Declaration, limit and payment of dividend PART VIL BY-LAWS. 47. By-laws 48. 49. Amendment of by-laws... Binding effect of the by-laws 4. :: :: :: 16 16 16 16 16 17 17 17 18 18 19
2026-05-04 12:09:03 · Baseline
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2

CAP. 119]

Credit Unions.

(1968 Ed.

Section.

Page.

28.

Election and tenure of office of board of directors and committees

12

29.

Meetings of board and committees, and appointment of officers and

procedure

13

→

30.

Officers of a credit union

14

31.

Composition of the committees

14

32.

Remuneration

14

▼

PART V.

MANAGEMENT.

Powers and duties of board.

33.

Powers and duties of the board

14

Powers and duties of supervisory committee.

34.

Powers and duties of supervisory committee

15

Powers and duties of credit committee.

35.

Powers and duties of credit committee

36.

Approval of loans ...

37.

Acceptable security for loans

38.

Loan officers

::

15

15

***

15

16

PART VI

LOANS, BORROWING, RESERVE FUND AND DIVIDENDS.

Loans to members.

39.

Purposes of loans ...

40.

Restrictions on loans

***

41.

Rates of interest

42.

Unanimous vote required for loans to directors or committee members

43.

44.

Borrowing powers.

Borrowing powers ..

Power to mortage, etc, as security for borrowed money

45.

Reserve fund

Reserve fund.

Dividends.

46.

Declaration, limit and payment of dividend

PART VIL

BY-LAWS.

47.

By-laws

48.

49.

Amendment of by-laws...

Binding effect of the by-laws

4.

::

::

::

16

16

16

16

16

17

17

17

18

18

19

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