Article 25B Application of Order to credit unionsF1

Northern Ireland

(1)

This Order applies to credit unions as it applies to companies.

(2)

Accordingly, in this Order—

(a)

references to a company include a credit union,

(b)

references to a director of a company include a member of the board of directors of a credit union, and

(c)

references to an officer of a company include an officer of a credit union.

(3)

In its application in relation to credit unions, this Order has effect as if—

(a)

in Article 5(1) the reference to striking off included the cancellation of the registration of a credit union under the 1985 Order;

(b)

in F2Article 6(3ZA)(a) the reference to the companies legislation included the 1985 Order;

(F3c)

Articles 9(1)(a)(ii), 10(2)(b) and (5A) F4, 11A to 11E and 15A were omitted;

(ca)

the reference in Article 19A(3)(b) to a company which has been dissolved without becoming insolvent were omitted;

(d)

references to the registrar were to the F5Financial Conduct Authority ;

(e)

references to a shadow director were omitted.

(4)

In this Article—

“board of directors”, “credit union” and “officer” (in relation to a credit union) have the meaning given by Article 2(2) of the 1985 Order;
“the 1985 Order” means the Credit Unions (Northern Ireland) Order 1985.

Annotations

F1: Art. 25B inserted (23.4.2016) by Credit Unions and Co-operative and Community Benefit Societies Act (NorthernIreland) 2016 (c. 16), ss. 7, 17(1)
F2: Words in art. 25B(3)(b) substituted (26.10.2023 for specified purposes, 18.11.2025 in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 32(4), 219(1)(2)(b); S.I. 2025/1118, reg. 2(1)(d)
F3: Art. 25B(3)(c)(ca) substituted for art. 25B(3)(c) (15.12.2021 for specified purposes, 15.2.2022 in so far as not already in force) by Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act 2021 (c. 34), ss. 3(11), 4(4)(c)(5) (with s. 3(13))
F4: Words in art. 25B(3)(c) substituted (26.10.2023 for specified purposes, 4.3.2024 in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 39(5), 219(1)(2)(b); S.I. 2024/269, reg. 2(z3)
F5: Words in art. 25B(3)(d) substituted (6.4.2018 immediately after 2016 c. 16 (N.I.), s. 8(2) comes into force) by The Financial Services Act 2012 (Mutual Societies) Order 2018 (S.I. 2018/323), art. 1, Sch. 4 para. 7 (with art. 3)