- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/08/2014)
- Gwreiddiol (Fel y'i Deddfwyd)
Point in time view as at 01/08/2014.
There are currently no known outstanding effects for the Credit Unions Act 1979, Section 18.
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(1)Without prejudice to [F1 section 106 of the 2014 Act ] (appointment of inspector or calling of special meeting upon application of members of registered society), where the [F2FCA or the PRA] is of the opinion that [F3, for reasons connected with the exercise of its functions under this Act or [F4 the 2014 Act ],]an investigation should be held into the affairs of a credit union or that the affairs of the credit union call for consideration by a meeting of the members, [F5it may] appoint an inspector to investigate and report on the affairs of the credit union or may call a special meeting of the credit union, or may (either on the same or on different occasions) both appoint such an inspector and call such a meeting.
(2)All expenses of and incidental to an investigation or meeting held pursuant to subsection (1) above shall be defrayed out of the funds of the credit union, or by the members or officers or former members or officers of the credit union in such proportions as the [F2FCA or the PRA] shall direct.
(3)[F6 Section 107 of the 2014 Act ] (power to prescribe time and place of meeting, procedure, power to require evidence to be given, etc.) shall apply in relation to an inspector appointed or meeting called in accordance with this section.
[F7(4) The FCA and the PRA must each notify the other before appointing an inspector or calling a meeting under subsection (1) in relation to a society which is a PRA -authorised person. ]
Textual Amendments
F1Words in s. 18(1) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 9(2)(a) (with Sch. 5)
F2Words in s. 18(1)(2) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 6 para. 12(2) (with Sch. 12)
F3Words in s. 18(1) inserted (2.7.2002) by S.I. 2002/1501, arts. 1(1), 2(13)
F4Words in s. 18(1) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 9(2)(b) (with Sch. 5)
F5Words in s. 18(1) substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 283 (with art. 13(3)); S.I. 2001/3538, art. 2(1)
F6Words in s. 18(3) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 9(3) (with Sch. 5)
F7S. 18(4) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 6 para. 12(3) (with Sch. 12)
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