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Credit Unions Act 1979

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This is the original version (as it was originally enacted).

Section 19.

SCHEDULE 2Procedure in Relation to Directions Under Section 19

1Not less than fourteen days before giving a direction, the chief registrar shall serve on the credit union concerned, and on every member of its committee, a notice stating that he proposes to give such a direction and specifying the nature of the direction he proposes to give and the considerations which have led him to conclude that he should give such a direction.

2The chief registrar shall consider any representations with respect to the notice which may be made to him by the credit union within such period as he 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 it an opportunity of being heard by him within that period.

3(1)On giving such a direction the chief registrar 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 chief registrar to conclude that he should give the direction.

(3)The chief registrar 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.

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 chief registrar by him or by the credit union.

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 chief registrar in the Gazette and in any other manner which appears to him to be necessary for informing the public.

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