Credit Unions Act 1979

6 Minimum and maximum number of members.E+W+S

(1)The minimum number of members of a credit union shall be twenty-one and, accordingly, in the following provisions, namely—

(a)section 2(1) of the 1965 Act, as it applies to registration as a credit union and to an application therefor,

(b)section 16(1)(a)(i) of that Act, as it applies to the cancellation of such a registration,

(c)section 53(2) of that Act, as it applies to the conversion of a company into a credit union, and

(d)[F1section][F2122(1)(e) of the Insolvency Act 1986] as it applies by virtue of [F3section 55(1)(a)] of the 1965 Act to the presentation of a petition for winding up a credit union,

for the word [F4three][F5(or, in the case of section [F6122(1)(e) of the Act of 1986], for the word “two")] there shall be substituted the words “ twenty-one" ”.

F7(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4Word in S. 6(1) substituted (1.9.1996) by S.I. 1996/1738 arts. 1, 3(2)(b)