New South Wales Consolidated Acts

LOAN FUND COMPANIES ACT 1976 - SECT 20

20 Loan fund company to publish certain information

(1) A loan fund company shall, not later than 14 days after the last day of each month, publish in the Gazette and in such newspaper or newspapers circulating in New South Wales as the Supervisor may have specified or approved for the purpose, either generally or specifically:

(a) the particulars specified in subsection (2) of every offer of a loan made during that month to a person holding loan entitlement shares in the company or, if during that month the company has not made any such offer, a statement to that effect, and

(b) the particulars specified in subsection (3) of every loan made during that month to a person holding loan entitlement shares in the company or, if during that month the company has not made any such loan, a statement to that effect.

(2) The particulars referred to in subsection (1) (a) are:

(a) the date on which the offer was made,

(b) the loan priority number allocated or deemed to be allocated in respect of the loan entitlement shares held by the person to whom the offer was made,

(c) the amount offered to that person as a loan, and

(d) the rate of interest expressed as a percentage per annum that will be payable with respect to the loan if made and the period within which the loan will, if made, be required to be repaid.

(3) The particulars referred to in subsection (1) (b) are:

(a) the date on which the loan was made,

(b) the loan priority number allocated or deemed to be allocated in respect of the loan entitlement shares held by the person to whom the loan was made,

(c) the amount of the loan, and

(d) the rate of interest expressed as a percentage per annum that is payable with respect to the loan and the period within which the loan is required to be repaid.

Maximum penalty: 5 penalty units.