# The Financial Services and Markets Act 2000 (Permission and Applications) (Credit Unions etc.) Order 2002, Article 2: Credit unions registered at commencement


(1) Any unauthorised credit union is to be treated as having, at commencement, a Part IV permission to accept deposits by way of subscription for its shares.
(2) The permission acquired by virtue of paragraph (1) is subject to any requirement imposed by virtue of article 5(1).

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Source: https://www.legislation.gov.uk/uksi/2002/704/article/2 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-permission-and-applications-credit-unions-etc-order-2002/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.