Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016

1. Introductory Text

2. Credit Unions

   1. 1. Corporate members of credit unions

   2. 2. Removal of restriction on non-qualifying members of a credit union

   3. 3. Interest-bearing shares

   4. 4. Attachment of shares

   5. 5. Supply by credit union of copies of its rules

   6. 6. Application of surplus funds for social, cultural or charitable purposes

   7. 7. Application of directors disqualification provisions to credit unions

3. Co-operative and Community Benefit Societies

   1. 8. Registration of societies as co-operative or community benefit societies etc.

   2. 9. Members under 18 years old

   3. 10. Limits on holding shares

   4. 11. Year of account

   5. 12. Publication of unaudited interim accounts

   6. 13. Dissolution of a registered society by an instrument of dissolution

4. General

   1. 14. Review of section 1

   2. 15. Interpretation

   3. 16. Minor and consequential amendments

   4. 17. Commencement

   5. 18. Short title

5. SCHEDULES

   1. SCHEDULE 1

      MINOR AND CONSEQUENTIAL AMENDMENTS

      1. PART 1 AMENDMENTS CONSEQUENTIAL ON SECTION 1

         1. The Credit Unions (Northern Ireland) Order 1985 (NI 12)

            1. 1. In Article 3 (registration) after paragraph (3) insert—

            2. 2. After that Article insert— Common bonds: corporate members (1) This Article applies for the purposes of determining whether—...

            3. 3. In Article 13 (minimum number of members) after paragraph (1)...

            4. 4. In Article 14 (membership and voting rights) after paragraph (9)...

            5. 5. In Article 16 (remedy for debts from members) after paragraph...

            6. 6. In Article 17 (nomination to property in credit union) after...

            7. 7. In Article 18 (proceedings on death of nominator) after paragraph...

            8. 8. In Article 23 (shares) for paragraph (2) substitute—

            9. 9. In Article 28 (loans) after paragraph (1) insert—

            10. 10. In Article 72 (disputes which are to be decided in...

            11. 11. (1) Schedule 1 (matters to be provided for in rules...

      2. PART 2 AMENDMENTS CONSEQUENTIAL ON SECTION 8

         1. Industrial and Provident Societies Act (Northern Ireland) 1969 (c. 24)

            1. 12. (1) Section 15 (cancellation of registration of society) is amended...

            2. 13. In section 65(a) (power of registrar to petition for winding...

            3. 14. In section 101(1) (interpretation)— (a) after the definition of “persons...

            4. 15. In section 104(1) (short title) for “the Industrial and Provident...

         2. Fish Industry Act (Northern Ireland) 1972 (c. 4)

            1. 16. In section 2(3) (grants for purposes connected with co-operative activities)...

            2. 17. (1) Section 9 (acquisition of businesses etc. in the fish...

         3. The Industrial and Provident Societies (Amendment) (Northern Ireland) Order 1976 (NI 7)

            1. 18. In Article 1 (title etc.) for “the Industrial and Provident...

            2. 19. (1) Article 2 (interpretation etc.) is amended as follows.

         4. The Property (Discharge of Mortgage by Receipt) (Northern Ireland) Order 1983 (NI 9)

            1. 20. In Article 3(10) (discharge of mortgage by receipt) in the...

         5. The Credit Unions (Northern Ireland) Order 1985 (NI 12)

            1. 21. In Article 2(2) (interpretation) in the definition of “credit union”...

            2. 22. In Article 60(1)(c)(i) (cancellation of registration) for “or the Industrial...

            3. 23. In Article 63(b) (petition for winding up) for “or the...

            4. 24. In Schedule 4 (savings), in paragraph 1 for “the Industrial...

         6. The Industrial Relations (Northern Ireland) Order 1992 (NI 5)

            1. 25. In Article 3(4) (definition and status of trade union) for...

         7. The Housing (Northern Ireland) Order 1992 (NI 15)

            1. 26. In Article 3 (interpretation of Part 2) in the definition...

            2. 27. In Article 23(12) (inquiries into affairs of registered housing associations)...

         8. The Company Directors Disqualification (Northern Ireland) Order 2002 (NI 4)

            1. 28. (1) Article 25A (application of Order to registered societies) is...

         9. The Insolvency (Northern Ireland) Order 2005 (NI 10)

            1. 29. In Article 10(2) (application of law about company arrangement or...

         10. The Industrial and Provident Societies (Northern Ireland) Order 2006 (NI 3)

             1. 30. In Article 1(1) (title etc.) for “the Industrial and Provident...

             2. 31. In Article 2(2) (interpretation) in the definition of “the principal...

             3. 32. In Article 9(8) (community benefit societies: power to restrict use...

             4. 33. (1) Article 10 (power to modify statutory provisions relating to...

         11. Charities Act (Northern Ireland) 2008 (c. 12)

             1. 34. (1) Section 112 (conversion of charitable company or registered industrial...

             2. 35. In section 114(3)(b) (conversion: supplementary) for “the Industrial and Provident...

         12. Local Government Act (Northern Ireland) 2014 (c. 8)

             1. 36. In Part 2 of Schedule 6 (access to information: exempt...

         13. General modifications

             1. 37. Subject to the provisions of this Schedule and of any...

      3. PART 3 MINOR AND CONSEQUENTIAL AMENDMENTS: GENERAL

         1. Industrial and Provident Societies Act (Northern Ireland) 1969 (c. 24)

            1. 38. (1) Section 48 (annual returns) is amended as follows.

            2. 39. In section 67(5) (instrument of dissolution) for the words from...

            3. 40. In section 68(1) (restriction on dissolution or cancellation of registration)—...

            4. 41. In section 101(1) (interpretation) for the definition of “year of...

            5. 42. In Part 1 of Schedule 1 (matters to be provided...

         2. The Credit Unions (Northern Ireland) Order 1985 (NI 12)

            1. 43. In Article 2(2) (interpretation) at the appropriate place insert— “year-end...

            2. 44. After Article 78 insert— Incidental, transitional, etc. provision An order under any of the following may contain such...

      4. PART 4 REMOVAL OF OBSOLETE MATERIAL ETC.

         1. Industrial and Provident Societies Act (Northern Ireland) 1969 (c. 24)

            1. 46. For “Ministry” in each place (except in section 101 and...

            2. 47. (1) Section 22 (nomination of property in society) is amended...

            3. 48. In section 37 (general provisions as to accounts and balance...

            4. 49. In section 38(1) (duty to appoint auditors) omit “beginning on...

            5. 50. In section 38A(1) (power of registered societies to disapply section...

            6. 51. For section 41 (qualified auditors) substitute— Meaning of qualified auditor”...

            7. 52. In section 43 (auditors’ report etc.) omit subsection (8).

            8. 53. In section 45(1) (group accounts) omit “beginning on or after...

            9. 54. In section 48 (annual returns) omit subsection (7).

            10. 55. Omit section 77 (application of Part 2 to credit unions)....

            11. 56. In section 101(1) (interpretation)— (a) omit the definition of “board...

            12. 57. In section 103 (repeals, savings and transitional provisions) omit subsection...

            13. 58. Omit Schedule 5 (transitional provisions).

   2. SCHEDULE 2

      TRANSITIONAL PROVISION

      1. Section 4: attachment of shares

         1. 1. The amendments made by section 4 do not apply in...

      2. Section 8: pending applications for registration of a society

         1. 2. (1) This paragraph applies where an application for the registration...

      3. Section 8: appeals against decision not to register

         1. 3. (1) This paragraph applies if— (a) before the relevant time,...

      4. Section 9: members under 18

         1. 4. The amendment made by section 9 does not apply in...