Article 13 Minimum number of membersF3
Northern Ireland
The minimum number of members of a credit union shall be 21.
Where shares are allotted to an individual who is a corporate member (see Articles 14(1)(b) and 14A), then for the purposes of paragraph (1) the partnership or (as the case may be) the unincorporated association is to be treated as the member in respect of those shares.
This does not affect the treatment of the individual as a member in respect of any shares that the individual holds on his or her own behalf.
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Annotations
Textual amendments
- F1
Art. 13(1A)(1B) inserted (23.4.2016) by Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 (c. 16), s. 17, Sch. 1 para. 3
- F2
Art. 13(2)-(5) omitted (31.3.2012) by virtue of Financial Services and Markets Act 2000 (Permissions, Transitional Provisions and Consequential Amendments) (Northern Ireland Credit Unions) Order 2011 (S.I. 2011/2832), arts. 1(2), 13(8)
- F3
Art. 13 heading substituted (31.3.2012) by Financial Services and Markets Act 2000 (Permissions, Transitional Provisions and Consequential Amendments) (Northern Ireland Credit Unions) Order 2011 (S.I. 2011/2832), arts. 1(2), 13(8)