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Wednesday, 10 June 1970

Terminating societies:

To 13.8.68- $7,500 or 80% of the property valuation whichever is the lower

From 14.8.68- $8,500 or 80% of the property valuation whichever is the lower

Permanent societies:

Under the provisions of the Co-operative Societies Ordinance 1939-1966 the maximum loan which a society is permitted to make is 90% of the valuation of the property.

Since 1963 permanent societies have obtained funds from the Commonwealth and these are used to provide first mortgage loans only.

The maximum amounts that may be loaned with Commonwealth funds have varied as follows: 1963 to 13.8.68- $7,500 or 80% of valuation whichever is the lower

From 14.8.68-58,500 or 80% of valuation whichever is the lower







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