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Section 61: Central Financing Facility
Tier 4 Microfinance Institutions and Money Lenders Act · 61
Point-in-time consolidation · as at 28 October 2016. This non-pilot lookup is excluded from search indexes pending a deterministic currency check. Verify against the latest Uganda Gazette before relying on it.
Consolidated text
(1) At least two or more SACCOs may establish a central financing facility.
(2) A SACCO shall not borrow from more than one central financing facility except with the approval of
the Authority.
(3) A Central Financing Facility shall only serve member SACCOs and not individuals.
(4) A Central Financing Facility may be operated by-
(a) an apex society;
(b) a cooperative union; or
(c) a company incorporated by the SACCOs for purposes of operating a Central Financing
Facility.
Source: laws_africa.