Hong Kong Regulations

CO-OPERATIVE SOCIETIES RULES - RULE 50

Recovery of loans

Where-

   (a)  a loan or an instalment of a loan has not been paid on the date on
        which it became due; and

   (b)  no extension for the payment thereof has been given to the debtor by
        the committee under rule 48, the committee shall take steps for the
        recovery of the same by referring the matter to the Registrar as
        prescribed in section 49 of the Ordinance.