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The Legislative Reform (Industrial and Provident Societies and Credit Unions) Order 2011

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24.  For the purposes of sections 1, 1A and 1B of the 1979 Act as amended or inserted by articles 12 and 13

(a)any reference in the rules of a credit union to a qualification for admission to membership shall, if the context requires, be interpreted as a reference to a common bond;

(b)any qualification for admission to membership of a credit union approved by the Authority before this Order comes into force shall be treated as a common bond approved by the Authority.

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