Queensland Consolidated Regulations

CO-OPERATIVES NATIONAL REGULATION - REG 3.18

3.18 Distribution of surplus or reserves to members—minimum rate of interest for loan when rebate paid as loan to co-operative (section 357(4))

(1) This regulation prescribes the rate of interest for a loan to a co-operative repayable at call, which is the minimum rate of interest the loan must bear.

(2) For the purposes of section 357 (4) of the Law, the prescribed rate of interest for a loan to a co-operative repayable at call is the cash rate published by the Reserve Bank of Australia and having effect at the commencement of the loan period.