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15.
LOANS AND ADVAFCES.
A bank may at its discretion advance by way of loan or otherwise any moncys to a customer in the Colony with or without such security as it may consider fit but shall not without the agrocent of the
customer or without a licence from the Financc Committee scll or other- wise dispose of such security in default of payment of the debt secured thereby within six months from the dato horcof.
In order to assist interncos who are reloased and need money, and to provido funds for ordinary maintenance and to pay wages and to restore business the banks must have discretion to advance monoys on new security or on personal credit. It is necessary however to protect internees and others who may deposit securities for advances and who should not be deprived of their securities by foreclosure before they have had an opportunity to repay their loans. The restriction can bo withdrawn in duo course. It is suggested that to avoid tho activitios of speculators and unscrupulous persons the banks might be made the channels for the making of loans against socurities on such terms as to protect the borrower and his property.
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