SCHEDULE 3Amendments of the Credit Unions (Northern Ireland) Order 1985
19
In Article 66 (Transfer of engagements between credit unions) for paragraphs (4)44 and (5)45 substitute—
4
If the appropriate authority is the FCA, the FCA must not register a special resolution under this Article unless the proposed transfer would not, in its opinion, result in a contravention of the 2000 Act, or any requirement imposed by or under that Act.
5
If the appropriate authority is the PRA, the FCA must not register a special resolution under this Article unless the PRA, having first consulted the FCA, has confirmed to the FCA that the proposed transfer would not, in its opinion, result in a contravention of the 2000 Act, or any requirement imposed by or under that Act.