{
  "url": "https://openlegislation.uk/legislative-reform-industrial-and-provident-societies-and-credit-unions-order-2011/article-21",
  "json_url": "https://openlegislation.uk/legislative-reform-industrial-and-provident-societies-and-credit-unions-order-2011/article-21.json",
  "legislation": "uksi/2011/2687",
  "legislation_title": "The Legislative Reform (Industrial and Provident Societies and Credit Unions) Order 2011",
  "legislation_url": "https://openlegislation.uk/legislative-reform-industrial-and-provident-societies-and-credit-unions-order-2011",
  "path": "article/21",
  "kind": "article",
  "number": "21",
  "heading": "Dividends",
  "text": "In section 14 (computation and application of profits), for subsection (4), substitute—\n“(4) The dividend payable on any shares of a credit union shall—\n(a) on its dissolution, not exceed a rate of 8 per cent per annum or such other rate as may be specified by order made by the Treasury; and\n(b) at any other time, not exceed that rate except to the extent that the rules of the credit union provide otherwise.”",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Art. 21 in force at 8.1.2012, see art. 1(1)(b)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 14 was amended by S.I. 2001/2617; there are other amending instruments but none is relevant."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2011/2687/article/21",
    "retrieved_at": "2026-10-29T01:50:51.413385+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}