Section 19.
1Not less than fourteen days before giving a direction, the [F1Authority] shall serve on the credit union concerned, and on every member of its committee, a notice stating that [F2it] proposes to give such a direction and specifying the nature of the direction [F2it] proposes to give and the considerations which have led [F2it] to conclude that [F2it] should give such a direction.
Textual Amendments
F1Word in Sch. 2 para. 1 substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(a) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
F2Words in Sch. 2 para. 1 substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(b) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
Modifications etc. (not altering text)
C1Sch. 2 para. 1 excluded (2.7.2002) by S.I. 2002/1501, arts. 1(1), 6(2)
2The [F3Authority] shall consider any representations with respect to the notice which may be made to [F4the Authority] by the credit union within such period as [F4the Authority] may allow, not being less than fourteen days from the date on which the credit union is served with the notice, and, if the credit union so requests, shall afford [F5the credit union] an opportunity of being heard by [F4the Authority] within that period.
Textual Amendments
F3Word in Sch. 2 para. 2 substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(a) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
F4Words in Sch. 2 para. 2 substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(c)(i) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
F5Words in Sch. 2 para. 2 substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(c)(ii) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
Modifications etc. (not altering text)
C2Sch. 2 para. 2 modified (2.7.2002) by S.I. 2002/1501, arts. 1(1), 6(5)
3(1)On giving such a direction the [F6Authority] shall serve the direction on the credit union and shall serve on every member of its committee a notice of the giving of the direction.
(2)The direction and notices served in accordance with subparagraph (1) above shall be accompanied by a notice specifying the considerations which have led the [F6Authority] to conclude that [F7it] should give the direction.
(3)The [F6Authority] shall not have power to give such a direction unless all the considerations so specified were those, or were among those, which were specified in the notice under paragraph 1 above.
Textual Amendments
F6Words in Sch. 2 para. 3 substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(a) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
F7Word in Sch. 2 para. 3(2) substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(d) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
4A notice under this Schedule may be served on a member of the committee of a credit union by sending it by post to his address, or latest address, as notified to the [F8Authority] by him or by the credit union.
Textual Amendments
F8Word in Sch. 2 para. 4 substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(a) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
5Failure to serve a notice under this Schedule on a committee member shall not affect the validity of a direction.
6Notice of the giving of a direction shall be published by the [F9Authority] in the Gazette and in any other manner which appears to [F10it] to be necessary for informing the public.
Textual Amendments
F9Word in Sch. 2 para. 6 substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(a) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
F10Word in Sch. 2 para. 6 substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(e) (with art. 13(3)); S.I. 2001/3538, art. 2(1)