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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Credit Unions (Increase in Limits on Deposits by persons too young to be members and of Periods for the Repayment of Loans) Order 2001 URL: http://www.bailii.org/uk/legis/num_reg/2001/20010811.html |
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Made | 8th March 2001 | ||
Laid before Parliament | 8th March 2001 | ||
Coming into force | 1st April 2001 |
Increase in limit on shareholding
3.
In section 9(1) of the 1979 Act[3] for "£750" (specifying the maximum amount of the deposits which may be taken from a person who is under the age at which he may become a member of a credit union registered under the 1965 Act) there shall be substituted "£5,000".
Increase in periods for the repayment of loans
4.
- (1) The specified periods for the purposes of subsection (4) of section 11 of the 1979 Act (maximum periods for repayment of loans) are -
(2) The specified periods for the purposes of subsection (4A) of that section (which, as a result of section 11B(1) and (4) of the 1979 Act, has effect if the credit union has a certificate of approval under section 11C of that Act) are -
Geoffrey Fitchew
Chief Registrar of Friendly Societies
5th March 2001
We consent to this Order.
Jim Dowd
Greg Pope
Two of the Lords Commissioners of Her Majesty's Treasury
8th March 2001
[2] 1965 c.12. See the definition of "chief registrar". Section 73 applies for the purposes of the Credit Unions Act 1979 by virtue of section 31(2) of that Act.back
[3] The sum £750 was inserted in section 9(1) by article 4 of the Credit Unions (Increase in Limits of Shareholding, of Deposits by persons too young to be members and of Loans) Order 1989 (S.I. 1989/2423).back