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Version status: In force | Document consolidation status: No known changes
Version date: 8 April 2024 - onwards
Version 2 of 2

34. Amendment of section 63A of Principal Act (manager of credit union)

Section 63A of the Principal Act is amended by the insertion of the following subsections after subsection (5):

"(6) Subject to subsection (7), the board of directors of a credit union may appoint the manager of the credit union to be a member of the board of directors for such term as they determine.

(7) Where a person appointed under subsection (6) ceases to be a manager of the credit union concerned, that person shall immediately upon such cessation cease to be a member of the board of directors of that credit union.".