The Board may, subject to the provisions made in articles, provide financial assistance to the Members of the Producer Company by way of-
(a) credit facility, to any Member, in connection with the business of the Producer Company, for a period not exceeding six months;
(b) loans and advances, against security specified in articles to any Member, repayable within a period exceeding three months but not exceeding seven years from the date of disbursement of such loan or advances:
Provided that any loan or advance to any Director or his relative shall be granted only after the approval by the Members in general meeting.