Paragraph 3
England, Wales and Scotland
On giving such a direction the F1Authority shall serve the direction on the credit union and shall serve on every member of its committee a notice of the giving of the direction.
The direction and notices served in accordance with subparagraph (1) above shall be accompanied by a notice specifying the considerations which have led the Authority to conclude that F2it should give the direction.
The Authority shall not have power to give such a direction unless all the considerations so specified were those, or were among those, which were specified in the notice under paragraph 1 above.
Annotations
Textual amendments
- F1
Words in Sch. 2 para. 3 substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(a) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
- F2
Word in Sch. 2 para. 3(2) substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. IV para. 291(d) (with art. 13(3)); S.I. 2001/3538, art. 2(1)
Notes on Schedule 2
Textual amendments
- F1
Sch. 2 omitted (2.7.2002) by virtue of S.I. 2002/1501, arts. 1(1), 2(22) (with art. 6(1))