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Credit Unions Act 1979
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There are currently no known outstanding effects for the Credit Unions Act 1979, Section 4.
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4 Rules.E+W+S
(1)The rules of a credit union shall be in such form as the [F1FCA] may determine and shall contain—
(a)provision with respect to the matters mentioned in Schedule 1 to this Act; and
(b)such additional provision as the [F1FCA] may determine.
[F2(1A) The FCA must consult the PRA before determining any provision under subsection (1)(b) which relates to credit unions which are PRA -authorised persons. ]
(2)The rules of a credit union may not be amended except by a resolution passed by not less than two-thirds of the members present at a general meeting called for the purpose after the giving of such notice as is by the rules required for such a resolution.
[F3(3)In section 16(4) of the 2014 Act (registration of amendment of rules where not contrary to that Act) as it applies to credit unions, the reference to that Act is to be read as a reference to that Act and this Act.]
F4(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F5(5)Section 21 and paragraph 5 of Schedule 3 of the 2014 Act (rules as to fund for purchase of government securities) do not apply to credit unions.]
Textual Amendments
F1Word in s. 4(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 6 para. 6(2) (with Sch. 12)
F2S. 4(1A) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 6 para. 6(3) (with Sch. 12)
F3S. 4(3) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 5(2) (with Sch. 5)
F4S. 4(4) repealed (3.7.2002) by S.I. 2002/1555, art. 7(2)
F5S. 4(5) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 5(3) (with Sch. 5)
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