SCHEDULES
SCHEDULE 4Consequential amendments
Part 1Amendments of the Credit Unions Act 1979
13
1
Section 23 (conversion of company into credit union) is amended as follows.
2
Omit subsections (1) and (2).
3
In subsection (3) for “that section” substitute “
section 115 of the 2014 Act (conversion of company into a registered society)
”
.
4
After subsection (4) insert—
5
Section 116 of the 2014 Act (member's shareholding in company exceeds maximum permitted amount) does not apply in relation to the conversion of a company into a credit union.