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The Credit Unions Act 1979 (Locality Common Bond Conditions) Order 2017

S.I. 2017/1144 · Made 23 November 2017

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Credit Unions

Made 23rd November 2017

Laid before Parliament 27th November 2017

Coming into force 6th April 2018

The Treasury in exercise of the powers conferred by section 1B(3)(a) and (5) of the Credit Unions Act 1979f1 make the following Order.

Annotations to the whole text

Footnotes

f1

1979 c. 34; section 1B was inserted by S.I. 2011/2687.

Contents

  1. 1Citation and commencement
  2. 2Amendment to the Credit Unions Act 1979
  3. Signature
  4. Explanatory note

1Citation and commencement

This Order may be cited as the Credit Unions Act 1979 (Locality Common Bond Conditions) Order 2017 and comes into force on 6th April 2018.

2Amendment to the Credit Unions Act 1979

For the purpose of section 1B(3)(a) (further requirements where common bond relates to locality) the specified figure for the maximum number of potential members of the society is three million.

Signature

Heather Wheeler

Mark Spencer

Two of the Lords Commissioners of Her Majesty’s Treasury

23rd November 2017

Explanatory note

(This note is not part of the Order)

This Order increases from two to three million the maximum number of potential members of a credit union under section 1(B)(3)(a) of the Credit Unions Act 1979 (c.34) where the common bond for qualification for membership relates to locality.