(1) An incorporated friendly society may provide its subsidiaries or bodies which it jointly controls with any of the following services -
(a) loans of money, with or without security and whether or not at interest;
(b) the use of services or property, whether or not for payment;
(c) grants of money, whether or not repayable; and
(d) guarantees of the discharge of their liabilities.
(2) An incorporated friendly society may make payments towards the discharge of the liabilities of any of its subsidiaries.