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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 19 December 2012 - onwards
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57. Credit Union Fund.

(1) A fund, to be known as the Credit Union Fund, is established.

(2) The purpose of the Credit Union Fund is -

(a) to provide a source of financial support for the restructuring of credit unions under this Part,

(b) to provide stabilisation support in accordance with Part 4,

(c) to meet the expenses of ReBo in discharging its functions under this Act,

(d) to provide for the costs referred to in section 60(2), and

(e) to provide for the expenses referred to in section 67.

(3) The Minister may contribute to the Credit Union Fund such sums as the Minister considers appropriate from the Central Fund or the growing produce of the Central Fund.

(4) The Minister is entitled to be reimbursed from the Credit Union Fund for all contributions under subsection (3). All sums paid out of the Credit Union Fund in repayment of a contribution under this subsection shall be paid into or disposed of for the benefit of the Exchequer.

(5) The Minister may, following receipt of a recommendation from ReBo b

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