(1) In pursuance of section 117 of the Act, every registered society shall fix, at a General Meeting, the maximum liability the society may incur in loans or deposits from a member or a non-member.
(2) The maximum fixed by subregulation (1) is subject to the approval of the Registrar.
(3) A registered society shall not exceed the maximum approved by the Registrar under subregulation (2).
(4) The Registrar may, at any time, review the maximum approved under subregulation (2) and vary that maximum.
(5) A society shall not accept shares or ordinary deposits of more than $10,000 in any one transaction from a member or non-member without an accepted declaration of the source of funds.