(a) The total amount of loans advanced by a society in a financial year pursuant to article 4 shall be such that at any time in that year the amount outstanding on such loans shall not exceed 7½% of the total amount of all loans secured by mortgage advanced by the society in the immediately preceding financial year; and

(b) the total amount of loans advanced by a society pursuant to article 4 and outstanding at any time shall not exceed 4% of the total assets held by the society at the end of the last financial year in respect of which its annual accounts have been laid before an annual general meeting of the society.