Regulation 7 Credit unions not to invest in strips

(1)

The Credit Unions (Authorised Investments) Order 1993^f1 shall be amended—

(a)

in regulation 4(2)—

(i)

by omitting the words “The definitions in”, and

(ii)

by substituting for the word “have” the word “has”; and

(c)

by inserting after paragraph 5 of the Schedule the following—

“6

Part I of this Schedule shall not be taken to include anything which, within the meaning of section 47 of the Finance Act 1942, is a strip of any securities of the Government of the United Kingdom.”.

(2)

The Credit Unions (Authorised Investments) Regulations (Northern Ireland) 1995^f2 shall be amended by inserting after regulation 3(2) the following—

“(3)

The Schedule shall not be taken to include anything which, within the meaning of section 47 of the Finance Act 1942, is a strip of any securities of the Government of the United Kingdom.”.

Annotations

Footnotes

f1: S.I. 1993/3100.
f2: S.R. (N.I.) 1995 No. 31.