{
  "url": "https://openlegislation.uk/credit-unions-northern-ireland-order-1985/article-23A",
  "json_url": "https://openlegislation.uk/credit-unions-northern-ireland-order-1985/article-23A.json",
  "legislation": "nisi/1985/1205",
  "legislation_title": "The Credit Unions (Northern Ireland) Order 1985",
  "legislation_url": "https://openlegislation.uk/credit-unions-northern-ireland-order-1985",
  "path": "article/23A",
  "kind": "article",
  "number": "23A",
  "heading": "Power to issue interest-bearing shares",
  "text": "(1) A credit union may issue interest-bearing shares if—\n(a) its rules so provide,\n(b) its most recent year-end balance sheet shows that it holds reserves of at least the threshold amount,\n(c) its auditors have made a report under Article 47 on that balance sheet,\n(d) it has given the appropriate authority a copy of the balance sheet, and\n(e) it has given the appropriate authority a copy of a relevant report, made after the date of the balance sheet.\n(2) The “threshold amount” is whichever of the following is greater—\n(a) £50,000;\n(b) 5% of the credit union's total assets.\n(3) A “relevant report” is a report made by the auditors appointed to audit the credit union's accounts and balance sheet, stating that in their opinion the credit union satisfies such conditions as are specified by the appropriate authority for the purposes of this paragraph.\n(4) The Department may by order substitute for the amount or percentage for the time being specified in paragraph (2) such other amount or percentage as it considers appropriate.",
  "extent": "N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Art. 23A - Art. 23B inserted (23.4.2016) by Credit Unions and Co-operative and Community Benefit Societies Act (NorthernIreland) 2016 (c. 16), ss. 3(2), 17"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisi/1985/1205/article/23A",
    "retrieved_at": "2026-10-29T04:48:49.006835+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}