- Latest available (Revised)
- Original (As made)
The Credit Unions (Maximum Interest Rate on Loans) Order 2013
You are here:
- UK Statutory Instruments
- 2013 No. 2589
- Whole Instrument
- Previous
- Next
What Version
Opening Options
More Resources
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Statutory Instruments
2013 No. 2589
Credit Unions
The Credit Unions (Maximum Interest Rate on Loans) Order 2013
Made
8th October 2013
Laid before Parliament
9th October 2013
Coming into force
1st April 2014
The Treasury, in exercise of the powers conferred by section 11(5) and (7) of the Credit Unions Act 1979(1), make the following Order:
Citation and commencement
1. This Order may be cited as the Credit Unions (Maximum Interest Rate on Loans) Order 2013 and comes into force on 1st April 2014.
Maximum interest rate
2. The rate specified for the purposes of section 11(5) of the Credit Unions Act 1979 is three per cent per month.
Revocation
3. This Order revokes the Credit Unions (Maximum Interest Rate on Loans) Order 2006(2).
Desmond Swayne
Stephen Crabb
Two of the Lords Commissioners of Her Majesty’s Treasury
9th October 2013
EXPLANATORY NOTE
(This note is not part of the Order)
This Order increases the limit on the interest which a credit union may charge on loans made by it under the Credit Unions Act 1979 (c.34) from 2% to 3% per month.
An impact assessment has not been produced for this instrument as no impact on the costs of business or the voluntary sector is foreseen.
(1)
1979 c. 34; section 11(7) was amended by S.I. 2001/2617.
(2)
Options/Help
Print Options
PrintThe Whole Instrument
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
Explanatory Memorandum
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.