law: Co-Operative Societies Act 2008 
  116.
  
  Prohibited loans
  1.      Subject to subsection
  
  (2), no society and no member society shall, directly or indirectly, give a
  
  loan, guarantee or other means of financial assistance—
  a.     
  
    to
  
  a member, director, officer or employee of the society or member society or an
  
  associate of any such person for any purpose; or
  b.    
  
    to
  
  any person for the purpose of or in connection with, the acquisition of
  
  membership of the society or the purchase of a share issued or to be issued by
  
  the society or member, where there are reasonable grounds to believe that the
  
  society is insolvent or would, after giving the financial assistance, be
  
  insolvent.
  1.      
  2.      A society may give a
  
  loan, guarantee or other means of financial assistance—
  a.     
  
    to
  
  a person in the ordinary course of business, where the lending of money is part
  
  of the ordinary business of the society;
  b.    
  
    to
  
  a person on account of expenditure incurred or to be incurred on behalf of the
  
  society;
  c.     
  
    to
  
  a member society or a member of a member society; or
  d.    
  
    to
  
  employees of the society or any of its member societies to enable or assist
  
  them to purchase or erect living accommodation for their own occupation.