Article 24 Transitional provisionsI1

England, Wales and Scotland

For the purposes of sections 1, 1A and 1B of the 1979 Act as amended or inserted by articles 12 and 13—

(a)

any reference in the rules of a credit union to a qualification for admission to membership shall, if the context requires, be interpreted as a reference to a common bond;

(b)

any qualification for admission to membership of a credit union approved by the Authority before this Order comes into force shall be treated as a common bond approved by the Authority.

Annotations

Commencement

I1: Art. 24 in force at 8.1.2012, see art. 1(1)(b)