Section 58(3) in Himachal Pradesh Co-Operative Societies Act, 1968
(3)If, in the opinion of the State Government, it is necessary in the interest of the society or societies concerned to do so, the State Government may, by general or special order, prohibit, restrict, or regulate the lending of money by any society or class of societies on the security of any property:Provided that the Registrar may, for ensuring safety of the funds of the society or societies concerned for proper utilization of such funds in furtherance of their objects and for keeping them within the loan making limits laid down in the rules and bye-laws, in consultation with the financing bank, by general or special order, regulate further the extent, conditions and manner of making loans by any society or class of societies to its members or other societies.
