(1) Regulations made by the Minister under section 35(1)(i) of the Credit Union Act, 1966, altering the financial limits prescribed by Part I of the Schedule to that Act, may apply to a specified class or classes of society denoted by reference to such matters as the Minister thinks fit, and different financial limits may be fixed for different classes of society.

(2) The provision in section 35(1) of the Credit Union Act, 1966, requiring the Minister to consult with the Credit Union Advisory Committee, shall apply only in relation to regulations under that section relating to credit unions.

(3) Every regulation made by the Minister pursuant to this section shall be laid before each House of the Oireachtas as soon as may be after it is made and if a resolution annulling the regulation is passed by either such House within the next 21 days on which that House has sat after the regulation is laid before it, the regulation shall be annulled accordingly, but without prejudice to anything previously done thereunder.