With respect to the borrowing of money by societies the following provisions shall have effect—
(a) a society may within the limits specified in paragraph (b) or (c) receive deposits or loans at interest from the members or other persons, of from corporate bodies, joint stock companies, or from any terminating society, to be applied to the purposes of the society;
(b) in a permanent society the total amount so received on deposit or loan and not repaid by the society shall not at any time exceed 2/3 of the amount for the time being secured to the society by hypothecary obligations or mortgages from its members;
(c) in a terminating society the total amount so received and not repaid may either be a sum not exceeding such 2/3 as aforesaid, or a sum not exceeding 12 months' subscriptions on the shares for the time being in force;
(d) every deposit book or acknowledgement or security of any kind for a deposit or loan by a society shall have printed or written therein or thereon the whole of sections 5 and 6.