Western Australian Consolidated Acts Western Australian Consolidated Acts A registered society
may invest any part of its capital in or upon any security authorised by its
rules, and also, if the rules do not direct otherwise —
(a) in
any bank incorporated by Royal Charter, or by or under the provisions of any
Act of Parliament or on deposit with the Treasurer under any law now or
hereafter to be in force relating to post office savings banks;
(b) on
Government securities of the State of Western Australia;
(c) on
mortgage of freehold or leasehold property (such leasehold being for a term of
years absolute, of which not less than 20 years is unexpired);
(d) on
securities of a local government;
(e) in
the shares or on the security of any other society registered or deemed to be
registered under this Act, or of any company within the meaning of the
Corporations Act 2001 of the Commonwealth . Provided that no such
investment be made in the shares of any society or company other than one with
limited liability.
[Section 27 amended by No. 10 of 1982
s. 28; No. 14 of 1996 s. 4; No. 10 of 2001 s. 49.]