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  1. Credit Union and Co-operation with Overseas Regulators Act 2012 (No. 40)
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Version status: Partly in force | Document consolidation status: Updated to reflect all known changes
Published date: 19 December 2012

Credit Union and Co-operation with Overseas Regulators Act 2012 (No. 40)

Consolidation Status: Updated to reflect all known changes
Comparing proposed amendment...
Introductory Text
Acts Referred to
Part 1 Preliminary and General (ss. 1-5)
In force
 1. Short title, construction and collective citation.
In force
 2. Commencement.
In force
 3. Definition.
In force
 4. Savers for regulatory actions of Bank.
In force
 5. Expenses.
Part 2 Amendments to Credit Union Act 1997 and Consequential Amendments, etc. (ss. 6-38)
In force
 6. Amendment of section 2 (Interpretation) of Principal Act.
In force
 7. Supplemental provisions relating to registration, etc., under section 6 of Principal Act.
In force
 8. Savings.
In force
 9. Protection of members' savings.
In force
 10. Borrowing.
In force
 11. Lending.
In force
 12. Investments.
In force
 13. Reserves.
In force
 14. Appeal against certain decisions of Bank.
In force
 15. Board of directors.
In force
 16. Operation of board of directors.
In force
 17. Functions of board of directors.
In force
 18. Chair of board of directors, etc.
In force
 19. Board committees.
In force
 20. Nomination committee.
In force
 21. Manager of credit union.
In force
 22. Credit officer and credit control officer.
In force
 23. Directors: suspension and removal by board oversight committee.
In force
 24. General governance requirements.
In force
 25. Conflicts of interest.
In force
 26. Additional requirements for credit unions.
In force
 27. Board oversight committee.
In force
 28. Special resolutions.
In force
 29. Power of Bank to make regulations.
In force
 30. Liquidity and stress testing, etc.
In force
 31. Bank's power to require appointment of additional director of credit union.
In force
 32. Removal of auditor of credit union by Bank.
In force
 33. General regulations by Bank.
In force
 34. Certain enactments not to apply to credit unions, etc.
Partly in force
 35. Miscellaneous and consequential amendments to Principal Act.
In force
 36. Consequential amendments of the Central Bank Act 1942.
In force
 37. Amendment of Schedule 2 to Central Bank Act 1942.
In force
 38. Revocation of statutory instruments.
Part 3 Restructuring (ss. 39-60)
Preliminary and restructuring generally (ss. 39-41)
In force
 39. Interpretation (Part 3).
In force
⚠ 40. Independence of Bank and its Governor not affected (Part 3).
In force
⚠ 41. Minister to have regard to European Union law (Part 3).
Credit Union Restructuring Board (ss. 42-56)
In force
⚠ 42. Establishment of Credit Union Restructuring Board.
In force
⚠ 43. Cessation of effect of this Part.
In force
⚠ 44. Restructuring functions of ReBo.
In force
⚠ 45. Restructuring of credit unions.
In force
⚠ 46. Guidelines and directions.
In force
⚠ 47. ReBo levy.
In force
⚠ 48. Collection of ReBo levy and amendment of section 61H of the Central Bank Act 1942.
In force
⚠ 49. Membership of Board of ReBo, etc.
In force
⚠ 50. Non-disclosure of information.
In force
⚠ 51. Reports to Minister.
In force
⚠ 52. Chief executive officer of ReBo.
In force
⚠ 53. Staff of ReBo.
In force
⚠ 54. Accounts and audit.
In force
⚠ 55. Contracted service providers.
In force
⚠ 56. Disclosure of information.
Credit Union Fund and Credit Union Levy (ss. 57-60)
In force
⚠ 57. Credit Union Fund.
In force
 58. Keeping and audit of accounts of Credit Union Fund, etc.
In force
⚠ 59. Credit union levy.
In force
⚠ 60. Arrangements for collection of credit union levies.
Part 4 Stabilisation (ss. 61-67)
In force
 61. Interpretation (Part 4).
In force
 62. Independence of Bank and its Governor not affected (Part 4).
In force
 63. Minister and Bank to have regard to European Union law (Part 4).
In force
 64. Funding for stabilisation support.
In force
⚠ 65. Provision of stabilisation support.
In force
 66. Stabilisation Committee.
In force
 67. Expenses of Bank under Part 4.
Part 5 Miscellaneous Amendments relating to Central Bank Acts 1942 to 2011 (ss. 68-70)
In force
 68. Amendments to Central Bank Act 1942.
In force
 69. Amendment to Central Bank Reform Act 2010.
Partly in force
 70. Amendments, repeals, revocations, savings and transitional provisions (Part 5).
Partly in force
 Schedule 1 Miscellaneous and Consequential Amendments to Credit Union Act 1997
Schedule 2 Amendments to Certain Acts and Statutory Instruments
Partly in force
 Schedule 2, Part 1 Amendments to Certain Acts
Partly in force
 Schedule 2, Part 2 Amendments to Certain Statutory Instruments
Schedule 3 Amendments of Central Bank Acts
In force
 Schedule 3, Part 1 Amendments of Central Bank Act 1971
In force
 Schedule 3, Part 2 Amendments of Central Bank Act 1997
Schedule 4 Amendments of Certain Other Acts
In force
 Schedule 4, Part 1 Amendments of Building Societies Act 1989
In force
 Schedule 4, Part 2 Amendment of Trustee Savings Banks Act 1989
In force
 Schedule 4, Part 3 Amendment of Investment Limited Partnerships Act 1994
In force
 Schedule 4, Part 4 Amendments of Consumer Credit Act 1995
In force
 Schedule 4, Part 5 Amendments of Investment Intermediaries Act 1995
In force
 Schedule 4, Part 6 Amendments of Credit Union Act 1997
In force
 Schedule 4, Part 7 Amendments of Investor Compensation Act 1998
In force
 Schedule 4, Part 8 Amendment of Asset Covered Securities Act 2001
Schedule 5 Amendments to Certain Statutory Instruments
In force
 Schedule 5, Part 1 Amendments of European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004 (S.I. No. 853 of 2004)
In force
 Schedule 5, Part 2 Amendment of European Communities (Insurance Mediation) Regulations 2005 (S.I. No. 13 of 2005)
In force
 Schedule 5, Part 3 Amendment of European Communities (Reinsurance) Regulations 2006 (S.I. No. 380 of 2006)
In force
 Schedule 5, Part 4 Amendments of European Communities (Markets in Financial Instruments) Regulations 2007 (S.I. No. 60 of 2007)
In force
 Schedule 5, Part 5 Amendments of European Communities (Insurance and Reinsurance Groups Supplementary Supervision) Regulations 2007 (S.I. No. 366 of 2007)
In force
 Schedule 5, Part 6 Amendments of European Communities (Credit Institutions) (Consolidated Supervision) Regulations 2009 (S.I. No. 475 of 2009)
In force
 Schedule 5, Part 7 Amendment of European Communities (Cross Border Payments) Regulations 2010 (S.I. No. 183 of 2010)
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