Suspension of registrationN.I.
61.—(1) Where under Article 60(1)(c) the [F1FCA might cancel the registration of a credit union, it may, in writing and, if the society is a PRA-authorised person, after consulting][F2 the PRA]—
(a)subject to paragraph (3), suspend the registration of that credit union for any term not exceeding three months; and
(b)F3...subject to Article 62(2)(c), renew any such suspension for the like period.
(2) Where before the expiration of the period of a notice under Article 60(2) of the proposed cancellation of a credit union's registration, that credit union duly lodges an appeal from the proposed cancellation under Article 62(2)(b), the [F4FCA may, in writing,] suspend the credit union's registration from the expiration of that period until the date of the determination or abandonment of the appeal.
(3) Not less than two months' previous notice in writing specifying briefly the ground of the proposed suspension shall be given by the [F5FCA] to a credit union before its registration is suspended under paragraph (1)(a).
(4) Notice of every suspension of a credit union's registration under paragraph (1)(a) or (2) and of any renewal of a suspension under paragraph (1)(b) shall, as soon as practicable after it takes place, be published in the Belfast Gazette and in any other manner which the [F6FCA] considers necessary for bringing the suspension to the notice of persons affected by the suspension.
(5) From the date of publication in the Belfast Gazette of a notice under paragraph (4) of the suspension of any credit union's registration under paragraph (1)(a) or (2) until the period of that suspension and any renewal of that suspension under paragraph (1)(b) ends (whether on the expiration of that period or on a successful appeal under Article 62(2)(c) from such a renewal) the credit union shall not be entitled to any of the privileges of this Order as a credit union, but without prejudice to any liability actually incurred by the credit union which may be enforced against it as if the suspension had not taken place.
F1Words in art. 61(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. 15(a)(i) (with art. 3)
F2Words in art. 61(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. 11 (with Sch. 12)
F3Words in art. 61(1)(b) 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. 15(a)(ii) (with art. 3)
F4Words in art. 61(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. 15(b) (with art. 3)
F5Word in art. 61(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(o) (with art. 3)
F6Word in art. 61(4) 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(o) (with art. 3)