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The Credit Unions (Northern Ireland) Order 1985

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  1. Introductory Text

  2. Introductory

    1. 1.Title and commencement

    2. 2.Interpretation

    3. 2A.The registrar and assistant registrar

  3. Registration as a credit union

    1. 3.Registration

    2. 4.Supplementary provisions as to registration

    3. 5.Registration to effect incorporation of credit union with limited liability

    4. 6.Use of name “ credit union ”, etc.

    5. 7.Change of name

  4. Rules

    1. 8.Rules

    2. 9.Supplementary provisions as to rules

    3. 10.Amendment or registered rules

    4. 11.Rules to bind members

    5. 12.Provision of copies of rules

  5. Membership of credit union

    1. 13.Minimum and maximum number of members

    2. 14.Membership and voting rights

    3. 15.Members under the age of 18

    4. 16.Remedy for debts from members

    5. 17.Nomination to property in credit union

    6. 18.Proceedings on death of nominator

    7. 19.Provision for small payments on death

    8. 20.Payments in respect of mentally incapable persons

    9. 21.Validity of payment to persons apparently entitled

  6. Operation of credit union

    1. 22.Restriction on business of credit union

    2. 23.Shares

    3. 24.Prohibition on carrying on banking

    4. 25.Prohibition on deposit-taking

    5. 26.Deposits by persons too young to be members

    6. 27.Power to borrow money

    7. 28.Loans by credit unions

    8. 28A.Loans to be treated as secured

    9. 28B.Loans by approved credit unions

    10. 28C.Grant of certificates of approval

    11. 28D.Withdrawal of certificates of approval

    12. 29.Promissory notes and bills of exchange

    13. 30.Contracts

    14. 31.Charges on assets of credit unions

    15. 32.Holding of land

    16. 33.Investments

    17. 34.Discharge of mortgages

    18. 35.Receipt on payment of money secured to a credit union

    19. 36.Computation and application of surplus

    20. 37.Insurance against fraud or other dishonesty

    21. 38.Guarantee funds

    22. 39.Prohibition on undischarged bankrupts and other persons

  7. Accounts, etc.

    1. 40.Books of account, etc.

    2. 41.Form in which books of account may be kept

    3. 42.Accounts and balance sheets

    4. 43.Obligation to appoint auditors

    5. 44.Re-appointment and removal of qualified auditors

    6. 45.Resolutions relating to appointment and removal of auditors

    7. 46.Qualified auditors

    8. 47.Auditors' report, right of access and to be heard

    9. 48.Remuneration of qualified auditors

    10. 49.Annual returns

    11. 50.Display of latest balance sheet

  8. Officers, receivers, etc.

    1. 51.Security by officers

    2. 52.Duty of officers to account

    3. 53.Duties of receiver or manager of credit union's property

  9. Registers, books, etc.

    1. 54.Register of members and officers

    2. 55.Restriction on inspection of books

    3. 56.Inspection of books by order of registrar

    4. 57.Production of documents and provision of information

  10. Suspension of credit union, etc.

    1. 58.Appointment of inspectors and calling of special meetings

    2. 59.Suspension of credit union's operations

    3. 60.Cancellation of registration

    4. 61.Suspension of registration

    5. 62.Appeals

    6. 63.Petition for winding-up

  11. Amalgamations and transfers of engagements

    1. 64.Restrictions on amalgamations and transfers of engagements

    2. 65.Amalgamation of credit unions

    3. 66.Transfer of engagements between credit unions

    4. 67.Saving for rights of creditors

  12. Dissolution of credit union

    1. 68.Dissolution of credit union

    2. 69.Liability of members in winding-up

    3. 70.Instrument of dissolution

    4. 71.Restriction on dissolution or cancellation of registration of credit union

  13. Disputes, offences and legal proceedings

    1. 72.Decision of disputes

    2. 73.Offences by credit unions

    3. 74.Fraud or misappropriation

    4. 75.Falsification

    5. 76.Prosecution of offences

    6. 77.Recovery of costs, etc.

  14. Miscellaneous and general

    1. 78.Regulations and orders

    2. 79.Fees

    3. 80.Form, deposit and evidence of documents

    4. 81.Annual reports by registrar

    5. 82.Great Britain credit unions

    6. 83.Savings, amendments and repeals

  15. SCHEDULES

    1. SCHEDULE 1

      MATTERS TO BE PROVIDED FOR IN RULES OF CREDIT UNION

      1. 1.The name of the credit union, which shall comply with...

      2. 2.The objects of the credit union which shall comply with...

      3. 3.The place which is to be the registered office of...

      4. 4.The qualifications required for, and the terms of, admission to...

      5. 5.The mode of holding meetings, including provisions as to the...

      6. 6.The appointment and removal of board of directors and functional...

      7. 7.Determination (subject to Article 14(3)) of the maximum amount of...

      8. 8.Provision for the mode of withdrawal of shares and for...

      9. 9.The mode and circumstances in which loans to members are...

      10. 10.Provision for the custody and use of the credit union's...

      11. 11.Provision for the audit of accounts by one or more...

      12. 12.Provision for the withdrawal of members from the credit union...

      13. 13.Provision for terminating the membership of members in order to...

      14. 14.Provision for the dissolution of the credit union, including provision...

    2. SCHEDULE 2

      FORM OF RECEIPT ON MORTGAGE, ETC.

      1. The  Limited hereby acknowledges that it has this  day of ...

      2. received the sum of £  , representing all money intended...

      3. [annexed] deed [and by a further charge dated, etc. ,...

      4.   )

      5.   ) Board of Directors

      6.   )

      7.   Secretary

    3. SCHEDULE 3

      PROCEDURE IN RELATION TO DIRECTIONS UNDER ARTICLE 59

      1. 1.Not less than 14 days before giving a direction, the...

      2. 2.The registrar shall consider any representations with respect to the...

      3. 3.(1) On giving such a direction the registrar shall serve...

      4. 4.Failure to serve a notice under this Schedule on a...

      5. 5.Notice of the giving of a direction shall be published...

    4. SCHEDULE 4

      SAVINGS

      1. 1.Where immediately before the date of the commencement of this...

      2. 2.Where immediately before the date of the commencement of this...

      3. 3.The provisions of this Schedule shall have effect without prejudice...

      1. Schedule 5—Amendments

      1. Schedule 6—Repeals

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