Credit Union and Co-operation with Overseas Regulators Act 2012

Contents

1. Art. 1 Short title, construction and collective citation.
2. Art. 2 Commencement.
3. Art. 3 Definition.
4. Art. 4 Savers for regulatory actions of Bank.
5. Art. 5 Expenses.
6. Art. 6 Amendment of section 2 (Interpretation) of Principal Act.
7. Art. 7 Supplemental provisions relating to registration, etc., under section 6 of Principal Act.
8. Art. 8 Savings.
9. Art. 9 Protection of members’ savings.
10. Art. 10 Borrowing.
11. Art. 11 Lending.
12. Art. 12 Investments.
13. Art. 13 Reserves.
14. Art. 14 Appeal against certain decisions of Bank.
15. Art. 15 Board of directors.
16. Art. 16 Operation of board of directors.
17. Art. 17 Functions of board of directors.
18. Art. 18 Chair of board of directors, etc.
19. Art. 19 Board committees.
20. Art. 20 Nomination committee.
21. Art. 21 Manager of credit union.
22. Art. 22 Credit officer and credit control officer.
23. Art. 23 Directors: suspension and removal by board oversight committee.
24. Art. 24 General governance requirements.
25. Art. 25 Conflicts of interest.
26. Art. 26 Additional requirements for credit unions.
27. Art. 27 Board oversight committee.
28. Art. 28 Special resolutions.
29. Art. 29 Power of Bank to make regulations.
30. Art. 30 Liquidity and stress testing, etc.
31. Art. 31 Bank’s power to require appointment of additional director of credit union.
32. Art. 32 Removal of auditor of credit union by Bank.
33. Art. 33 General regulations by Bank.
34. Art. 34 Certain enactments not to apply to credit unions, etc.
35. Art. 35 Miscellaneous and consequential amendments to Principal Act.
36. Art. 36 Consequential amendments of the Central Bank Act 1942.
37. Art. 37 Amendment of Schedule 2 to Central Bank Act 1942.
38. Art. 38 Revocation of statutory instruments.
39. Art. 39 Interpretation (Part 3).
40. Art. 40 Independence of Bank and its Governor not affected (Part 3).
41. Art. 41 Minister to have regard to European Union law (Part 3).
42. Art. 42 Establishment of Credit Union Restructuring Board.
43. Art. 43 Cessation of effect of this Part.
44. Art. 44 Restructuring functions of ReBo.
45. Art. 45 Restructuring of credit unions.
46. Art. 46 Guidelines and directions.
47. Art. 47 ReBo levy.
48. Art. 48 Collection of ReBo levy and amendment of section 61H of the Central Bank Act 1942.
49. Art. 49 Membership of Board of ReBo, etc.
50. Art. 50 Non-disclosure of information.
51. Art. 51 Reports to Minister.
52. Art. 52 Chief executive officer of ReBo.
53. Art. 53 Staff of ReBo.
54. Art. 54 Accounts and audit.
55. Art. 55 Contracted service providers.
56. Art. 56 Disclosure of information.
57. Art. 57 Credit Union Fund.
58. Art. 58 Keeping and audit of accounts of Credit Union Fund, etc.
59. Art. 59 Credit union levy.
60. Art. 60 Arrangements for collection of credit union levies.
61. Art. 61 Interpretation (Part 4).
62. Art. 62 Independence of Bank and its Governor not affected (Part 4).
63. Art. 63 Minister and Bank to have regard to European Union law (Part 4).
64. Art. 64 Funding for stabilisation support.
65. Art. 65 Provision of stabilisation support.
66. Art. 66 Stabilisation Committee.
67. Art. 67 Expenses of Bank under Part 4.
68. Art. 68 Amendments to Central Bank Act 1942.
69. Art. 69 Amendment to Central Bank Reform Act 2010.
70. Art. 70 Amendments, repeals, revocations, savings and transitional provisions (Part 5 ).