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This Order increases the following limits imposed by the Credit Unions Act 1979 on credit unions registered under the Industrial and Provident Societies Act 1965:
(i)the limit on a member’s shareholding in the credit union from £2,000 to £5,000;
(ii)the limit on the deposits which the credit union may take from persons too young to be members from £250 to £750; and,
(iii)the limit on loans in excess of a member’s total paid-up shareholding in the credit union from £2,000 to £5,000.
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