SCHEDULES

SCHEDULE 4Consequential amendments

Part 1Amendments of the Credit Unions Act 1979

6

1

Section 6 (minimum number of members) is amended as follows.

2

In subsection (1), omit the words from “and, accordingly” to the end.

3

After that subsection insert—

1A

Accordingly, references in the following provisions to 3 members are to be read as 21 members—

a

section 3(1)(a)(i) of the 2014 Act as it applies to an application for registration as a credit union;

b

section 5(3)(b) of that Act as it applies to the cancellation of a credit union's registration;

c

section 115(2) as it applies to the conversion of a company into a credit union.