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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 29 August 2023 - onwards
Version 7 of 7

Schedule 1 - Matters to be Provided For in Rules of Credit Union

Section 4(1).

1 The name of the society, which shall comply with section 3(1) above and with section 10(1) and (2) of the 2014 Act (name not to be undesirable and to end with the word "limited").

2 The objects of the society.

3 The place which is to be the registered office of the society to which all communications and notices to the society may be addressed.

4 The qualifications for admission to membership of the society, including one or more common bonds appropriate to a credit union.

4A The terms of admission to membership of the society, including any special provision for the insurance of members in relation to their shares.

5 The mode of holding meetings, including provision as to the quorum necessary for the transaction of any description of business, and the mode of making, altering or rescinding rules.

6 The appointment and removal of a committee, by whatever name, and of managers or other officers and their respective powers and remuneration.

7 Determination (subject to any applicable rules made by the FCA or the PRA under the 2000 Act) of the maximum amount of the interest in the shares of the society which may be held by any member.