Credit Union Act 1997

Registered name.

10

10. (1) The words “ credit union” or “ comhar creidmheasa” shall be included in the name of every credit union.

(2) The name of every credit union shall end with the word “ Limited” or “ Teoranta” which may be abbreviated to “Ltd.” or “Teo.” respectively.

(3) A credit union shall not use any name or title other than its registered name.

(4) A society shall not be registered—

( a) under a name which includes the word “ bank”, “ banker” or “ banking” or any other word which is a translation, variant or derivative of any of those words, or

( b) under any other name which, in the opinion of the F11 [ Bank ], is undesirable.

(5) A society shall not be registered under a name identical with that of an existing credit union or so nearly resembling such a name as to be likely to mislead members of the public as to its identity.

(6) As soon as practicable, every credit union shall cause its registered name to be painted or affixed, and to be kept painted or affixed, in a conspicuous position and in letters easily legible, on the outside of its registered office and every other office or place in which the business of the credit union is carried on, and shall have that name engraved in legible characters on its seal and set out in legible characters—

( a) in all notices, advertisements and other official publications of the credit union;

( b) in all business letters of the credit union;

( c) in all bills of exchange, promissory notes, endorsements, cheques, orders for money or goods and other instruments purporting to be signed by or on behalf of the credit union; and

( d) in all bills, invoices, receipts, and letters of credit of the credit union.

F12 [ (7) Notwithstanding subsection (6) a credit union which is a sub-office of a registered credit union may cause its name, along with the registered name of the credit union, to be painted or affixed, and to be kept painted or affixed, in a conspicuous position and in letters easily legible, on the outside of its office. ]

Annotations:

Amendments:

F11

Substituted (1.05.2003) by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 35(1) and sch. 1 pt. 24 item 8, S.I. No. 160 of 2003, subject to transitional provisions in s. 36 and sch. 3 para. 26.

F12

Inserted (11.10.2013) by Credit Union and Co-operation with Overseas Regulators Act 2012 (40/2012), s. 35 and sch. 1 item 2, S.I. No. 393 of 2013.