Credit Unions Act 1979
Credit Unions Act 1979 (1979 c. 34)
- Credit Unions Act 1979 (1979 c. 34)
- Registration as a credit union
- 1 Registration.
- 1ZA Specified financial activities
- 1ZB Power to specify further financial activities
- 1A. Common bonds appropriate to a credit union
- 1B. Further requirements where common bond relates to locality
- 2 Supplementary and transitional provisions as to registration.
- 3 Use of name “credit union", etc.
- Rules and membership
- 4 Rules.
- 5 Membership and voting rights.
- 5A. Corporate members
- 6 Minimum and maximum number of members.
- Operation of credit union
- 7 Shares.
- 7A. Power to issue interest-bearing shares
- 8 General prohibition on deposit-taking.
- 9 Deposits by persons too young to be members.
- 9A Power to charge for ancillary services
- 10 Power to borrow money.
- 11 Loans.
- 11A Loans to be treated as secured
- 11B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 11C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 11D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 11E Conditional sale and hire purchase agreements
- 11F Agreements to be treated as secured
- 11G Insurance distribution activities
- 12 Power to hold land for limited purposes.
- 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 14 Computation and application of profits.
- Insurance and other arrangements
- 15 Insurance against fraud or other dishonesty.
- 16 Guarantee funds.
- Powers of FCA and PRA
- 17 Power to require information.
- 17A. Section 17: recovery of FCA ’s and PRA ’s costs
- 18 Power to appoint inspector and call meeting.
- 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 20 Cancellation or suspension of registration and petition for winding up.
- Amalgamations, transfers of engagements and conversions
- 21 Amalgamations and transfers of engagements.
- 22 No conversion of credit union into company, etc.
- 23 Conversion of company into credit union.
- General and miscellaneous
- 23A Power to make provision corresponding to provision applying to building societies
- 24 Modifications of requirements as to audit of accounts.
- 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 26 Prohibition on subsidiaries.
- 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 28 Provisions as to offences.
- 29 Orders and regulations.
- 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 31 Interpretation, etc.
- 32 Northern Ireland.
- 33 Short title, commencement and extent.
- SCHEDULES
- SCHEDULE 1 Matters to be Provided For in Rules of Credit Union
- SCHEDULE 2 Procedure in Relation to Directions Under Section 19
- SCHEDULE 3. . . .
- Powers of chief registrar
- Duration of powers
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