law: Co-Operative Societies Act 2008 
  192.
  
  Restrictions
  1.      No credit union shall
  
  carry on any business that is contrary to this Act, the Regulations or its
  
  by-laws.
  2.      No credit union
  
  shall-
  a.     
  
    underwrite
  
  insurance or the issue of securities by another person;
  b.    
  
    act
  
  as agent for any insurance company or for any person in the placing of
  
  insurance; or
  c.     
  
    subject
  
  to subsection (3), require, directly or indirectly, that a borrower place
  
  insurance for the society or the credit union in any particular insurance
  
  agency.
  1.      
  2.      
  3.      Nothing in paragraph (c)
  
   of subsection (2) prevents a credit union from requiring insurance for the
  
  security of the credit union.
  4.      No act of a credit
  
  union, including the transfer of property to or by a credit union is contrary
  
  to this Act or the Regulations.
  5.      Without prejudice to
  
  the generality of paragraph (a) of subsection (2), a credit union may,
  
  with the permission of the Registrar, do all other acts and things as are
  
  incidental or conducive to or consequential upon the attainment of its objects.