Article 12 Common bonds

Section 1^f1 (registration under the Industrial and Provident Societies Act 1965) is amended as follows.

For subsection (2)(b) substitute—

“(b)

that the requirements of section 1A (common bonds appropriate to a credit union) and, where applicable, section 1B (further requirements where common bond relates to locality) are met.”

After subsection (3) insert—

“(3ZA)

In subsection (3) above references to members do not include corporate members.”

Omit subsections (3A) to (6).