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The Deregulation (Credit Unions) Order 1996
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Relaxation of limits on loans
6. In the 1979 Act—
(a)section 11(3) (which prohibits a loan to a non-qualifying member if his total liability to the credit union would exceed his total paid-up shareholding in it) and
(b)in section 5(8), the words “, subject to section 11(3) below”,
are hereby repealed.
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