4A. Feasibility study
(1) An application for registration shall be accompanied by a feasibility study of the commercial viability of the proposed society prepared in accordance with subregulation (3).
(2) The feasibility study referred to in subregulation (1) shall be signed by the chairman and secretary of the proposed society.
(3) The prescribed requirements to be included in a feasibility study under section 15(2)(b)(vii) of the Act are ¾
(a) personal and commercial background of all directors and principal officers;
(b) realistic budgets for the first 12 months of operation;
(c) lending policies;
(d) loan security;
(e) interest rates;
(f) insurance policies (including fidelity, building, mortgage etc.);
(g) liquidity provisions and stand-by arrangements;
(h) various services to members;
(i) administration efficiency potential;
(j) liability policies and borrowing powers; and
(k) any other matters considered important to support an application for registration.
[Regulation 4A inserted in Gazette 15 Mar 1985 p. 959; amended in Gazette 21 Dec 2001 p. 6544.]