The Financial Services Act 2012 (Mutual Societies) Order 2018

PART 1 Consequential amendments of primary legislation

The Credit Unions Act 1979

1.  In section 32 of the Credit Unions Act 1979(1) (Northern Ireland), in subsection (1), in paragraphs (a) and (b) for “credit unions registered by the FCA” substitute “societies registered as credit unions under the 2014 Act”.

The Co-operative and Community Benefit Societies Act 2014

2.—(1) The Co-operative and Community Benefit Societies Act 2014(2) is amended as follows.

(2) In section 142 (Northern Ireland societies whose rules are recorded by the FCA)—

(a) in the heading for “whose rules are recorded by the FCA” substitute “to be treated as registered societies”;

(b) in subsection (1) for paragraphs (a) and (b) substitute—

“(a) the society notifies the FCA that it wishes to be treated as a registered society, and

(b) the FCA places the notice on a file which it keeps in respect of the society.”; and

(c) in subsection (2)(b) for sub-paragraphs (ii) and (iii) substitute—

“(ii) the society’s rules, registered under the relevant Northern Ireland law, and

(iii) any amendment to the rules registered under that law,”.

(3) In section 149 (interpretation of Act), in the definition of “Gazette” for paragraph (c) substitute—

“(c) the Belfast Gazette, if a notice given by the society has been filed under section 102 (Great Britain societies carrying on business in Northern Ireland) of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969;”.

(1)

1979 c. 34. Section 32 was amended by S.I. 2001/2617, 2002/1555 and 2013/496, and by the Co-operative and Community Benefit Societies Act 2014 (c.14), section 151(1) and Schedule 4, paragraphs 1 and 17.

(2)

2014 c. 14.