Section 15A
Power to borrow moneys, etc.
of Farmers' Organization Act 1973
ActIn forceProvision 16 of 43
Section 15A
(1)
Subject to section 6, and to such limits as the Registrar may from time to time impose, a Farmers’ Organization may borrow moneys or incur other financial commitments or obligations for the purpose of carrying out its objects and performing its functions.
(2)
At each annual general meeting, every Farmers’ Organization shall determine, subject to the limits imposed by the Registrar pursuant to subsection (1), the maximum limit of indebtedness which it may incur at any time in the coming financial year on account of moneys borrowed or to be borrowed and of other financial commitments and obligations entered into or to be entered into both before and during that financial year.