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Version Superseded: 02/07/2002
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There are currently no known outstanding effects for the Credit Unions Act 1979, Section 11C.
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F1(1)The [F2Authority] may, on the application of a credit union, issue a certificate of approval to it if it appears to [F3the Authority] that, in relation to the kind of lending permitted under section 11B above, the arrangements for the management of the credit union and its activities are satisfactory.
(2)Applications under subsection (1) above shall be in writing.
(3)The [F2Authority] may only refuse an application under subsection (1) above if [F4it] has complied with subsections (4) and (5) below.
(4)Not less than fourteen days before refusing an application under subsection (1) above, the [F2Authority] shall serve on the credit union concerned a notice stating that [F4it] proposes to refuse the application and specifying the grounds on which [F4it] proposes to do so.
(5)The [F2Authority] shall—
(a)consider any representations with respect to a notice under subsection (4) above which may be made to [F3the Authority] by the credit union concerned within such period as [F4it] may allow, not being less than fourteen days from the date on which the notice is served, and
(b)if the credit union concerned so requests, afford it an opportunity of being heard by [F3the Authority] within that period.
Textual Amendments
F1Ss. 11B-11D inserted (1.9.1996) by S.I. 1996/1189, arts. 1,7
F2Words in s. 11C(1)(3)(4)(5) substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 275(a) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
F3Words in s. 11C(1)(5)(a)(b) substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 275(b)(d) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
F4Words in s. 11C(3)(4)(5)(a) substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 275(c) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
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