Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 No. 16

Co-operative and Community Benefit Societies

Limits on holding shares

10.—(1) Section 6(1) of the 1969 Act (maximum shareholding in society) is amended as follows.

(2) After “any interest in the” insert “withdrawable”.

(3) For “twenty thousand pounds” substitute “£100,000”.

(4) The amendment made by subsection (3) does not restrict the power conferred by section 4 of the Industrial and Provident Societies (Amendment) (Northern Ireland) Order 1976 (power to alter limit specified in section 6(1) of the 1969 Act).