Search Legislation

Credit Unions Act 1979

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As enacted)
 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes to legislation:

There are currently no known outstanding effects for the Credit Unions Act 1979, Section 11F. Help about Changes to Legislation

[F111FAgreements to be treated as securedE+W+S

(1)This section applies where—

(a)a credit union enters into an agreement mentioned in section 11E(1) with a member of the credit union, and

(b)at the time the agreement is entered into, the member’s paid-up shareholding in the credit union is equal to or greater than the member’s total liability (including contingent liability) to the credit union.

(2)On the application of the member to the credit union, the agreement is to be treated for the purposes of this Act as a secured agreement.]

Back to top

Options/Help