(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 19 December, 2012 as the date on which the provisions of sections 1, 2, 3 and 5, Part 3, Part 4, Part 5, section 35 in so far as it relates to Items 59 and 81 of Schedule 1 and Items 59 and 81 of Schedule 1 of the Credit Union and Co-operation with Overseas Regulators Act 2012 come into operation.

This Order provides for the commencement of the provisions of the Act in respect of restructuring and stabilisation of credit unions including the establishment of the Credit Union Fund.

This Order also provides for the commencement of the Part 5 of the Act making miscellaneous amendments relating to the Central Bank Acts 1942 to 2011. In particular this amends to the Central Bank Act 1942 and the Central Bank Act Reform Act 2012 including provisions in relation to co-operation with overseas regulators and the appointment of authorised officers by the Central Bank.