(1) Where 2 or more credit unions decide to submit, either jointly or severally in respect of themselves, a proposed restructuring plan (in this Act referred to as the "restructuring proposal") to ReBo, it shall be in such form and contain such information (including funding requirements and any analysis required to be undertaken) as ReBo may, from time to time, specify in writing as required for the purpose of the submission of a proposal to it.

(2) Every restructuring proposal under this section shall provide for -

(a) the amalgamation of credit unions, or

(b) the transfer of engagement between credit unions,

under Part IX of the Principal Act.

(3) Where ReBo decides that it will be or is relevant to its consideration of a restructuring proposal, it may -

(a) before submission to it of the restructuring proposal, and whether or not at the request of the credit union or credit unions concerned, indicate to the credit union or credit unions concerned that it requires the restructuring proposal to contain such additional information (including any analysis to be undertaken) as ReBo specifies, and