Credit Unions Act 1979

31 Interpretation, etc. E+W+S

(1) In this Act—

• F1 . . .

• “charitable", in the application of this Act to Scotland, shall be construed in the same way as in the Income Tax Acts;

• “credit union”, except in the expression “Northern Ireland credit union", means a society registered under the 1965 Act by virtue of section 1 above;

• “the 1965 Act” means the M1 Industrial and Provident Societies Act 1965;

• “non-qualifying member”, in relation to a credit union, has the meaning assigned to it by sections 5(5) and 21(4) above;

[F2 “Part IV permission" means a permission given by the Authority under Part IV of the 2000 Act or having effect as if so given;]

• “relative”, in relation to any person, means any of the following—

  (a)

  his spouse;

  (b)

  any lineal ancestor, lineal descendant, brother, sister, aunt, uncle, nephew, niece or first cousin of his or his spouse; and

  (c)

  the spouse of any relative within paragraph (b) above;

  and for the purpose of deducing any such relationship an illegitimate child or step-child shall be treated as a child born in wedlock;

• “spouse” includes former spouse and reputed spouse; and

• F3 . . .

[F4 (1A) In this Act, references to a deposit or accepting deposits must be read with—

(a) section 22 of the 2000 Act;

(b) any relevant order under that section; and

(c) Schedule 2 to that Act.]

(2) Section 67 and sections [F5 70A, F6 . . .72 and] 74 of the 1965 Act (supplementary provisions as to recovery of costs, fees, regulations, documents F7 . . . and general interpretation provisions) shall apply for the purposes of this Act as they apply for the purposes of that Act.

(3) In its application to credit unions the 1965 Act shall have effect subject to the provisions of this Act and with the omission of the following provisions (which are replaced by, or are inconsistent with, provisions of this Act), that is to say sections 6, 12, 19, 21, 30 and 31.

[F8 (4) Sections 7(1)(b) (registered society not to carry on the business of banking), section 39 (annual accounts) F9 and section 40 (display of latest balance sheet) F10 of the 1965 Act (which are replaced by, or are inconsistent with, provisions of the 2000 Act) do not apply to credit unions.]

Textual Amendments

F1 Definition of “authorised bank” in s. 31(1) omitted (2.7.2002) by virtue of S.I. 2002/1501, arts. 1(1), 2(20)(a)(i)

F2 Definition of “Part IV permission” in s. 31(1) inserted (2.7.2002) by S.I. 2002/1501, arts. 1(1), 2(20)(a)(ii)

F3 Definition of “statutory maximum” in s. 31(1) repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt. XIV.

F4 S. 31(1A) substituted (2.7.2002) by S.I. 2002/1501, arts. 1(1), 2(20)(b)

F5 Words in s. 31(2) substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 289(a) (with art. 13(3)); S.I. 2001/3538, art. 2(1)

F6 Words in s. 31(2) omitted (3.7.2002) by virtue of S.I. 2002/1555, arts. 1, 7(3)

F7 Words in s. 31(2) repealed (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1)(2), Sch. 3 Pt. IV para. 289(b), Sch. 4 (with art. 13(3)); S.I. 2001/3538, art. 2(1)

F8 S. 31(4) inserted (2.7.2002) by S.I. 2002/1501, arts. 1(1), 2(20)(c)

F9 Amended by the Friendly and Industrial and Provident Societies Act 1968 (c. 55), Schedule 1; S.I. 1996/1738; S.I. 2001/2617.

F10 Repealed in part by S.I.1996/1738.

Modifications etc. (not altering text)

C1 S. 31(1) extended (1.1.1993) by S.I. 1992/3218, reg. 82(1), Sch. 10 Pt. I para. 9

Marginal Citations

M1 1965 c. 12.