Article 60 Cancellation of registration

Subject to the provisions of this Article and Article 62(2)(b), and without prejudice to Article 65(6) or 66(3), the F1FCA may, in writing and, if the society is a PRA-authorised person, after consultingF2 the PRA, cancel the registration of any credit union—

The FCA must not cancel the registration of a credit union by virtue of paragraph (1)(d) unless the appropriate regulator (within the meaning given in section 55A of the 2000 Act) has cancelled the credit union’s permission under Part 4A of the 2000 Act and there is no possibility (or no further possibility) of that determination of the appropriate regulator being reversed or varied.

Not less than 2 months' previous notice in writing specifying briefly the ground of the proposed cancellation shall be given by the F13FCA to a credit union before its registration is cancelled otherwise than—

and if before the expiration of the period of that notice the credit union duly lodges an appeal under Article 62(2)(b), then, without prejudice to Article 61(2), the credit union's registration shall not be cancelled before the date of the determination or abandonment of the appeal.

Notice of every cancellation under this Article of a credit union's registration shall, as soon as practicable after it takes place, be published in the Belfast Gazette and in any other manner which the F14FCA considers necessary for bringing the cancellation to the notice of persons affected by the cancellation.

From the date of the publication in the Belfast Gazette under paragraph (3) of a notice of the cancellation of a credit union's registration, the credit union shall absolutely cease to be entitled to any of the privileges of this Order as a credit union, but without prejudice to any liability actually incurred by the credit union which may be enforced against it as if the cancellation had not taken place.