10(1)Section 20 (cancellation or suspension of registration etc) is amended as follows.E+W+S
(2)For subsections (1) and (1A) substitute—
“(1)Section 5 of the 2014 Act (grounds for cancellation of registration) applies in relation to a credit union as if it were modified as specified in subsections (1ZA) to (1ZD).
(1ZA)Subsection (1) applies as if for “any of conditions A to E” there were substituted “ any of conditions A to F ”.
(1ZB)Subsection (4)(b) (condition C) applies as if after “this Act” there were inserted “ or the Credit Unions Act 1979 ”.
(1ZC)The section applies as if for subsection (5) (condition D) there were substituted—
“(5)Condition D is that it appears to the FCA that the credit union's rules provide for one or more common bonds involving a connection with a locality and the requirements of section 1B of the Credit Unions Act 1979 are no longer met.”
(1ZD)The section applies as if after subsection (6) there were inserted—
“(7)Condition F is that the credit union's permission under Part 4A of the Financial Services and Markets Act 2000 has been cancelled or the credit union has received a warning notice under section 55Z of that Act.””
(3)In subsection (1B) for “under section 16 of the 1965 Act by virtue of subsection (1A)” substitute “ by virtue of condition F in section 5 of the 2014 Act ”.
(4)For subsections (1C) and (1D) substitute—
“(1C)Section 7 of the 2014 Act (cancellation of registration: additional procedure in certain cases) applies in relation to credit unions as if references to condition D included condition F.
(1D)Section 9 of the 2014 Act (appeals) applies in relation to credit unions as if the reference to condition D included condition F (accordingly, no appeal may be made against a decision to cancel a credit union's registration on the ground that condition F is met).”
(5)In subsection (1E) for “by virtue of subsection (1A)” substitute “ by virtue of condition F in section 5 of the 2014 Act ”.
(6)In subsection (2)(b) for “the Industrial and Provident Societies Acts 1965 to 1978” substitute “ the 2014 Act ”.