The Financial Services Act 2012 (Mutual Societies) Order 2013 No. 496

SCHEDULE 7 Amendments of the Credit Unions (Northern Ireland) Order 1985

15.—(1) Article 66 (transfer of engagements between credit unions) is amended as follows.

(2) In paragraph (4), for “Authority” substitute “appropriate authority”.

(3) After paragraph (4), insert—

“(5) If the appropriate authority is the PRA, it must consult the FCA before giving its confirmation under paragraph (4).”.