Section 6 Minimum and maximum number of members.

England, Wales and Scotland

(1)

The minimum number of members of a credit union shall be twenty-one F1....

F2(1A)

Accordingly, references in the following provisions to 3 members are to be read as 21 members—

(a)

section 3(1)(a)(i) of the 2014 Act as it applies to an application for registration as a credit union;

(b)

section 5(3)(b) of that Act as it applies to the cancellation of a credit union's registration;

(c)

section 115(2) as it applies to the conversion of a company into a credit union.

F3(2)

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(3)

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(4)

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(5)

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(6)

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Annotations

F1: Words in s. 6(1) omitted (1.8.2014) by virtue of Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 6(2) (with Sch. 5)
F2: S. 6(1A) inserted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 6(3) (with Sch. 5)
F3: S. 6(2)-(6) repealed (2.7.2002) by 2000 c. 8, ss. 338(4), 432(3), Sch. 18 Pt. V para. 21, Sch. 22; S.I. 2001/3538, art. 2(5)