Version status: Inserted
Version date: 18 October 2023 - onwards
61. Amendment of section 129 of Principal Act (transfer of engagements between credit unions)
This format of the bill is taken from the text of stage 1 published on 30 November 2022 by Seanad Éireann
Section 129 of the Principal Act is amended by the substitution of the following subsection for subsection (1):
"(1) Subject to compliance with section 130 -
(a) a credit union, other than a corporate credit union, may transfer its engagements to another credit union which, in accordance with this section, undertakes to fulfil the engagements, and
(b) a corporate credit union may transfer its engagements to another corporate credit union which, in accordance with this section, undertakes to fulfil the engagements.".