61.—(1) Where under Article 60(1)(c) the registrar might with the consent of the Department cancel the registration of a credit union, he may, by writing under his hand—
(a)subject to paragraph (3), suspend the registration of that credit union for any term not exceeding three months; and
(b)with the consent of the Department, but subject to Article 62(2)(c), renew any such suspension for the like period.
(2) Where before the expiration of the period of a notice under Article 60(2) of the proposed cancellation of a credit union's registration, that credit union duly lodges an appeal from the proposed cancellation under Article 62(2)(b), the registrar may by writing under his hand suspend the credit union's registration from the expiration of that period until the date of the determination or abandonment of the appeal.
(3) Not less than two months' previous notice in writing specifying briefly the ground of the proposed suspension shall be given by the registrar to a credit union before its registration is suspended under paragraph (1)(a).
(4) Notice of every suspension of a credit union's registration under paragraph (1)(a) or (2) and of any renewal of a suspension under paragraph (1)(b) shall, as soon as practicable after it takes place, be published in the Belfast Gazette and in any other manner which the registrar considers necessary for bringing the suspension to the notice of persons affected by the suspension.
(5) From the date of publication in the Belfast Gazette of a notice under paragraph (4) of the suspension of any credit union's registration under paragraph (1)(a) or (2) until the period of that suspension and any renewal of that suspension under paragraph (1)(b) ends (whether on the expiration of that period or on a successful appeal under Article 62(2)(c) from such a renewal) the credit union shall not be entitled to any of the privileges of this Order as a credit union, but without prejudice to any liability actually incurred by the credit union which may be enforced against it as if the suspension had not taken place.