Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards
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85. Assets and liabilities ratios and structures.

(1) A credit union shall at all times keep a proportion of its total assets in liquid form (hereinafter referred to as "liquid assets"), being such a proportion and having such a composition as to enable the credit union to meet its liabilities as they arise.

(2) For the purpose of complying with subsection (1), a credit union shall have regard to the range and scale of its business and the composition of its assets and liabilities; but nothing in this Act shall be taken to prevent a credit union keeping liquid assets in addition to those required for complying with subsection (1).

(3) The Bank may from time to time by notice in writing require a credit union to maintain, between its assets and its liabilities -

(a) a ratio specified in the requirement,

(b) a ratio which does not exceed a ratio so specified, or

(c) a ratio which is not less than a ratio so specified,

and a ratio may be so specified as a percentage of the assets or liabilities concerned.

(4) A requirement of the Bank un