The Credit Unions (Northern Ireland) Order 1985 No. 1205 (NI. 12)

Officers, receivers, etc. N.I.

Duties of receiver or manager of credit union's property N.I.

53.— [F1 (1)] Every receiver or manager of the property of a credit union who has been appointed under the powers contained in any instrument shall—

(a) within 1 month from the date of his appointment, notify F2 ...[F3 the appropriate person] of his appointment; and

(b) within 1 month F4 ... after the expiration of the period of 6 months from that date, and of every subsequent period of 6 months, deliver to F2 ... [F3 the appropriate person] a return showing his receipts and his payments during that period of 6 months; and

(c) within 1 month after he ceases to act as receiver or manager, notify F2 ...[F3 the appropriate person] of that fact and deliver to F2 ... [F3 the appropriate person] a return showing his receipts and his payments during the final period and the aggregate amount of his receipts and of his payments during all preceding periods since his appointment.

[F5 (2) In this article, “the appropriate person” means—

F6 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) the FCA ; and

(c) if the society is a PRA -authorised person, the PRA .

(3) F7 ... the FCA and, if the society is a PRA -authorised person, the PRA may each allow a period of longer than 1 month for the delivery of returns to it under paragraph (1)(b). ]

F1 Art. 53 renumbered as art. 53(1) (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 7 para. 9(2) (with Sch. 12)

F2 Words in art. 53(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. 10(a) (with art. 3)

F3 Words in art. 53(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 7 para. 9(3) (with Sch. 12)

F4 Words in art. 53(1)(b) omitted (1.4.2013) by virtue of The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 7 para. 9(4) (with Sch. 12)

F5 Art. 53(2)(3) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 7 para. 9(5) (with Sch. 12)

F6 Art. 53(2)(a) 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. 10(b) (with art. 3)

F7 Words in art. 53(3) 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. 10(c) (with art. 3)