INDUSTRIAL AND PROVIDENT SOCIETIES ACT (NORTHERN IRELAND) 1969 - SECT 79 General provisions as to credit unions.

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INDUSTRIAL AND PROVIDENT SOCIETIES ACT (NORTHERN IRELAND) 1969 - SECT 79

General provisions as to credit unions.

79.(1) A credit union shall not carry on any business or activity other than
appropriate to the objects set out in section 78(1).

(2) Without prejudice to any provisions of this Act specifying what the rules
should contain, the rules of a credit union shall contain provisions in
respect of the matters mentioned in Part I of Schedule 1 as modified in
relation to credit unions by Part II of that Schedule and shall also contain
such additional provisions and be in such form as the registrar may determine.

(3) The rules of a credit union shall not be amended except by a resolution
passed by not less than two-thirds of the members present at a general meeting
called for the purpose after the giving of such notice as is, by the rules,
required for such a resolution.

(4) Sections 2(2), 4, 5(5), 6, 7, 10, 11, 15(1)(c)(ii)(iii), (2), (4) and (5),
18, 20, 30, 31, 37(7)(8), 41(2)(3), 45 to 47, 61 and 62 shall not apply to a
credit union and the other provisions of this Act shall, except as otherwise
provided in this Part, apply to a credit union in like manner as they apply to
other registered societies.

(5) Notwithstanding the provisions of section 37, a credit union may display
at its registered office, and only at such office, an interim revenue account
or balance sheet which has not been audited, subject to the following
conditions being complied with, namely,

(a)the latest audited revenue account and balance sheet are displayed side by
side with such interim revenue account or balance sheet; and

(b)any interim revenue account or balance sheet so displayed is marked in
clearly legible characters and in a prominent position with the words
"UNAUDITED REVENUE ACCOUNT" or, as the case may be, "UNAUDITED BALANCE SHEET";

Name of credit union.

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Northern Irish Legislation

INDUSTRIAL AND PROVIDENT SOCIETIES ACT (NORTHERN IRELAND) 1969 - SECT 79