Part 10 – Borrowing

Part 10 – Borrowing 60) In order to carry out the purposes of the Society, the directors may, on behalf of and in the name of the Society, raise or secure the payment or repayment of money in the manner they decide, and in particular but without limiting the foregoing, by the issue of debentures. 61) No debenture shall be issued without the sanction of a special resolution passed by the directors. 62) The members may, by special resolution, restrict the borrowing powers of the directors, but a restriction imposed expires at the next Annual General Meeting.