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Loan societies and charitable pawn offices may be established, subject to the regulations provided by this Act.
Such societies empowered to make rules, &c. subject to the restrictions herein-after mentioned.
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9. It shall and may be lawful to and for any number of persons in Ireland, subject to the restrictions and regulations herein-after provided, to form themselves into a society in Ireland in any district or place in which it shall be proved to the satisfaction of the said loan fund board that such society is required, and such society shall and may raise from time to time by loans from the members of such society, or from other persons at a rate of interest not exceeding five pounds per centum per annum, or by donations, a stock or fund for the purpose of granting loans to the industrious classes resident therein, and receiving repayment of the same by instalments, with interest as herein-after provided; and it shall be in like manner lawful for any number of persons in Ireland, subject to the restrictions and regulations herein-after provided, to form themselves into a society for the purpose of establishing or maintaining a charitable pawn or deposit office or offices in Ireland, at which money may be lent to the industrious classes resident therein upon pledges or deposits, at such rate of interest, not exceeding the rate of interest which now is or may be hereafter legally chargeable by pawnbrokers in Ireland, as the said loan fund board may from time to time appoint; and it shall and may be lawful for the members of every such society from time to time to make, subject to the restrictions herein-after contained, rules for the better government and guidance of the same, and for defining the district, by townlands or otherwise, within which the operations of the society ought to be conducted, and fór fixing the charges for application papers, instalments, cards, and duplicates, and for the imposition of fines upon the several persons obtaining loans from the funds of any such society, and the officers and members thereof, offending against or violating such rules, and also from time to time to alter and amend such rules as occasion shall require, or to annul and repeal the same, and to make new rules in lieu thereof, so as such rules shall not be repugnant to the laws of this realm, nor to any of the express provisions or regulations of this Act.
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