Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 11 October 2013 - onwards
  Version 4 of 4    

136. Restriction on dissolution or cancellation of registration.

(1) Until a certificate under this section has been lodged with the Bank -

(a) a credit union shall not be dissolved in accordance with section 135(6); and

(b) the Bank shall not cancel the registration of a credit union under section 97(2)(a).

(2) A certificate under this section is one which -

(a) is signed by the secretary or other officer (other than a person who is an officer solely by virtue of being a voluntary assistant) of the dissolving or transferor credit union approved by the Bank; and

(b) certifies that all property vested in the credit union has been duly conveyed or transferred to the persons entitled.