Section 92 of the Principal Act is amended, in subsection (1), by the substitution of the following paragraph for paragraph (a):

"(a) an application is made to the Bank by -

(i) in the case of a credit union other than a corporate credit union, not less than 30 members, and

(ii) in the case of a corporate credit union, not less than 2 members,

each of whom has been a member of the credit union throughout the period of 12 months ending on the date of the application, or".