The Industrial and Provident Societies (Credit Unions) (Amendment of Fees) Regulations 1987 No. 393

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Statutory Instruments

1987 No. 393

INDUSTRIAL AND PROVIDENT SOCIETIES

The Industrial and Provident Societies (Credit Unions) (Amendment of Fees) Regulations 1987

Made

9th March 1987

Laid before Parliament

11th March 1987

Coming into force

1st April 1987

The Treasury, in exercise of the powers conferred upon them by sections 70(1) and 71(1) of the Industrial and Provident Societies Act 1965(1), as applied by section 7(2) of the Industrial and Provident Societies Act 1967(2) and section 31(2) of the Credit Unions Act 1979(3), and of all other powers enabling them in that behalf, hereby make the following Regulations:

1.  These Regulations may be cited as the Industrial and Provident Societies (Credit Unions) (Amendment of Fees) Regulations 1987 and shall come into force on 1st April 1987.

2.  The Industrial and Provident Societies (Credit Unions) Regulations 1979(4) shall be amended by substituting for Schedule 2 thereto the following Schedule:-

Regulation 17

"SCHEDULE 2FEES PAYABLE FOR REGISTRATION AND SUNDRY OTHER MATTERS

£
For the acknowledgement of registration of a credit union (except as hereinafter provided)360
For the acknowledgement of registration of an amendment of rules being a substitution of an entire set of rules for the existing set of rules (except as hereinafter provided)240
For the acknowledgement of registration of an amendment of rules not being a substitution of an entire set of rules for the existing set of rules (except that no fee shall be payable for the acknowledgement of registration of an amendment of rules made for the purposes of section 10(2)(b) of the 1965 Act)115
For the approval of a change of name115
For the registration of a notice of change in the situation of a registered office20

For the registration of a special resolution where the special resolution relates to an amalgamation or a transfer of engagements and the credit union passing it has-

(a)100 members or less

44

(b)more than 100 members but not more than 500

66

(c)more than 500 members but not more than 1,000

88

(d)more than 1,000 members

110
For the appointment of an inspector, or the calling of a special meeting by the Chief Registrar or the Assistant Registrar of Friendly Societies for Scotland (except that no fee shall be payable where an inspector is appointed or a special meeting called by the Chief Registrar pursuant to section 18 of the 1979 Act)130

For the registration of an instrument of dissolution or alteration therein where the society has-

(a)100 members or less

44

(b)more than 100 members but not more than 500

66

(c)more than 500 members but not more than 1,000

88

(d)more than 1,000 members

110
For the reference of a dispute to the Registrar6.25
For the award of a Registrar on a dispute where the award is made without an oral hearing or upon one oral hearing without adjournment29
and if more than one oral hearing becomes necessary, then for every such additional hearing29
For the award of the Chief Registrar for the appropriation or division of the assets of a society on dissolution-where the value of the assets is less than £600, 21 per cent of that value;where the value of the assets is £600 or more, £126 with an additional £5.75 for every £100 or part thereof in excess of £600.For every document (except as otherwise provided) required to be signed by a Registrar or to bear the seal of the Central Office not chargeable with any other fee12
For the inspection on any particular day of documents on the file kept by a Registrar under regulation 16 of these Regulations or sections 1(3) and 4(3) of the 1967 Act relating to a single credit union2.75

For the provision of a copy of the whole of or an extract from any document-

(a)where the copy is a photocopy and is not certified as a true copy of a document in the custody of the Registrar (except as may be necessary for the examination of the copy)-

(i)where the copy does not exceed 5 pages, or for the first 5 pages of a copy which exceeds 5 pages

0.80

(ii)for every page of a copy after the fifth page

0.15

(b)where the copy is not a photocopy and is not so certified-

(i)where the copy does not exceed 216 words, or for the first 216 words of a copy which exceeds 216 words

5.75

(ii)for each complete folio of 72 words by which a copy exceeds 216 words

1.15

(c)where the copy, whether a photocopy or not, is certified as provided in subparagraph (a) above (as an addition to whatever fee would be payable if the copy were not so certified and the fee for the signature of a Registrar or the seal of the Central Office)

2.75

The fee for the acknowledgement of registration of a credit union the rules of which are in the form of model rules, where the application for the registration is made through and endorsed by the association or body which has sponsored the rules contained in the said model, shall be £140.

The fee for the acknowledgement of registration of an amendment of rules being a substitution of an entire set of rules for the existing set of rules, where the entire set of rules is in the form of model rules and where the application for registration is made through and endorsed by the association or body which has sponsored the rules contained in the said model, shall be £100.

The fee to be delivered to the Central Office pursuant to section 1(2)(b) of the 1967 Act or to the Assistant Registrar of Friendly Societies for Scotland pursuant to section 4(1)(c) of the 1967 Act shall be £16."

3.  The Industrial and Provident Societies (Credit Unions) (Amendment of Fees) Regulations 1986(5) are hereby revoked.

Michael Neubert

Mark Lennox-Boyd

Two of the Lords Commissioners of Her Majesty's Treasury

9th March 1987

Explanatory Note

(This note is not part of the Regulations)

These Regulations supersede the Industrial and Provident Societies (Credit Unions) (Amendment of Fees) Regulations 1986. They generally increase by about 4% the fees to be paid for matters to be transacted and for the inspection of documents under the Industrial and Provident Societies Acts 1965 and 1967 and the Credit Unions Act 1979. However, fees for registration of a society using model rules remain unchanged, while fees for registration of rules other than model rules have been increased by 8%, better to reflect the relative amounts of work involved. The Regulations apply only in relation to societies registered as credit unions under the Industrial and Provident Societies Act 1965.

(4)

S.I. 1979/937, amended by S.I. 1986/622.

(5)

S.I. 1986/622.

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