Section 36 of the Principal Act is amended -

(a) in subsection (2) -

(i) by the substitution of "A loan must be approved" for "Subject to subsections (3) and (5), a loan must be approved",

(ii) in paragraph (c), by the substitution of "credit officer; or" for "credit officer.", and

(iii) by the insertion of the following paragraph after paragraph (c):

"(d) in accordance with a loan approval process which has been approved by the board of directors.",

and

(b) by the deletion of subsections (3), (4) and (5).