New South Wales Consolidated Acts

CO-OPERATIVE HOUSING AND STARR-BOWKETT SOCIETIES ACT 1998 - SECT 56

56 Prohibition on foreign borrowings by co-operative housing societies

A co-operative housing society must not:

(a) borrow money from a source outside Australia, or

(b) borrow money in a foreign currency, or

(c) borrow money by means of a loan that is repayable (whether as to principal or interest) in a foreign currency.