1. This Order may be cited as the Credit Unions (Limit on Shares) Order (Northern Ireland) 2006 and shall come into operation on 1st April 2006.
2. In Article 14(3) of the Credit Unions (Northern Ireland) Order 1985 (which provides that a member of a credit union shall not have or claim any interest in the shares of a credit union exceeding the greater of £10,000 and 1.5 per cent of the total shareholdings in the credit union(1)), for “£10,000”(2) there shall be substituted “£15,000”.
3. The Credit Unions (Limit on Shares) Order (Northern Ireland) 1993 is hereby revoked.
Sealed with the Official Seal of the Department of Enterprise, Trade and Investment on 2nd March 2006.
L.S.
Mike Bohill
A senior officer of the
Department of Enterprise, Trade and Investment