- Y Diweddaraf sydd Ar Gael (Diwygiedig)
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The Credit Unions (Northern Ireland) Order 1985
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Changes over time for: Section 62
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Changes to legislation:
The Credit Unions (Northern Ireland) Order 1985, Section 62 is up to date with all changes known to be in force on or before 25 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to the whole Order associated Parts and Chapters:
Whole provisions yet to be inserted into this Order (including any effects on those provisions):
- Sch.1 Pt.I amended by S.I. 1996/2653 art.2(b)
- Sch.1 Pt.I rev.in pt. by S.I. 1996/2653 art.2(a)
- Sch. 1 Pt. 1 words inserted by S.I. 1996/2653 art. 2(b)
- Sch. 1 Pt. 1 words omitted by S.I. 1996/2653 art. 2(a)
AppealsN.I.
[F162.—(1) A society may appeal to the High Court from the decision of the [F2FCA] to refuse registration of the society as a credit union (including a refusal by reason only of anything contained in or omitted from the society's rules) on any ground other than that—
(a)[F3the FCA] is not satisfied that a common bond exists between the members of the society;
[F4(b)the society has not made an application under Part 4A of the 2000 Act to accept deposits; F5...
(c) the FCA [F6is not] satisfied that, once registered under this Order, the society will satisfy, and continue to satisfy, the threshold conditions (within the meaning of section 55B(1) of the 2000 Act) for which it is responsible in relation to the regulated activity of accepting deposits. ]][F7or]
[F8(d)the PRA has not confirmed to the FCA that it is satisfied that, once registered under this Order, the society will satisfy, and continue to satisfy, the threshold conditions (within the meaning given in section 55B(1) of the 2000 Act) for which it is responsible in relation to the regulated activity of accepting deposits.]
(2) A credit union may appeal to the High Court from any decision of the [F9FCA] —
(a)to refuse registration of any amendment of the credit union's rules; or
(b)to cancel the credit union's registration (being a cancellation of which notice is required under Article 60(2), and not being a cancellation by virtue of Article 60(1)(c)(ii)) [F10or (d)] if the appeal is lodged before the expiration of the period of notice of the proposed cancellation given under Article 60(2); or
(c)to renew under Article 61(1)(b) a suspension of the credit union's registration so far as that renewal provides for the suspension to continue more than three months from the original date of suspension.
(3) If any decision such as is mentioned in paragraph (1) or (2)(a) is overruled on appeal, the [F11FCA] shall issue to the credit union an acknowledgement of registration under this Order, or, as the case may be, of the amendment under Article 10(4).
F1 Art. 62(1) substituted (31.3.2012) by Financial Services and Markets Act 2000 (Permissions, Transitional Provisions and Consequential Amendments) (Northern Ireland Credit Unions) Order 2011 (S.I. 2011/2832) , arts. 1(2) , 13(32)
F2Word in art. 62(1) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 16(a)(i) (with art. 3)
F3Words in art. 62(1)(a) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 3(f) (with art. 3)
F4 Art. 62(1)(b)(c) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 7 para. 12 (with Sch. 12 )
F5Word in art. 62(1) omitted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by virtue of The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 16(a)(ii) (with art. 3)
F6Words in art. 62(1)(c) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 16(a)(iii) (with art. 3)
F7Word in art. 62(1) inserted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 16(a)(iv) (with art. 3)
F8Art. 62(1)(d) inserted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 16(a)(v) (with art. 3)
F9Word in art. 62(2) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 2(p) (with art. 3)
F10Words in art. 62(2)(b) inserted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 16(b) (with art. 3)
F11Word in art. 62(3) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 3 para. 2(p) (with art. 3)
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