OpenLegislation

Paragraph 18

Original text. Later amendments are not shown.

In Article 65 (Amalgamation of credit unions)f1—

(a)

in paragraph (4) for “him” substitute “it”; and

(b)

for paragraphs (7) and (8) substitute—

“(7)

If the appropriate authority is the FCA, the FCA must not register a special resolution under this Article unless the proposed amalgamation would not, in its opinion, result in a contravention of the 2000 Act, or any requirement imposed by or under that Act.

(8)

If the appropriate authority is the PRA, the FCA must not register a special resolution under this Article unless the PRA, having first consulted the FCA, has confirmed to the FCA that the proposed amalgamation would not, in its opinion, result in a contravention of the 2000 Act, or any requirement imposed by or under that Act.”.

Annotations

Footnotes

f1

The words in Article 65(7) were inserted by S.I 2011/2832 and substituted by S.I 2013/496. Article 65(8) was inserted by S.I 2013/496.