Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) The Office shall not provide a loan:
(a) to a member, unless it is:
(i) provided in the ordinary course of business;
(ii) subject to the terms and conditions normally imposed by the Office in similar dealings; and
(iii) approved by a majority of the members (other than the member to whom the loan is to be provided) present and voting on the matter at a meeting of the Office; or
(b) to an associate of a member, unless it is:
(i) provided in the ordinary course of business; and
(ii) subject to the terms and conditions normally imposed by the Office in similar dealings.
(2) A member or associate of a member commits an offence if:
(a) the member or associate obtains a loan from the Office; and
(b) the Office is prohibited from providing the loan under subsection (1).
Fault element: The member or associate knows the Office is prohibited from providing the loan.
Maximum penalty: 50 penalty units or imprisonment for 6 months.