Credit Union Act 1997

PART VII

Accounts and Audit

Financial year of a credit union.

107

107. (1) Subject to subsections (2) and (3), the financial year of a credit union shall be the period of 12 months ending on the 30th day of September or such other date as the F231 [ Bank ] may determine.

(2) The initial financial year of a credit union shall be such period as begins on the date on which the credit union is registered and expires on the following 30th September or on such other date as the F231 [ Bank ] may have determined before the 30th September.

(3) The final financial year of a credit union shall be that period (of less than 12 months) which expires on the date to which the credit union makes up its final accounts and begins on the day following the end of the preceding financial year (as determined under subsection (1) or subsection (2)).

Annotations:

Amendments:

F231

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 73, S.I. No. 160 of 2003, subject to transitional provisions in s. 36 and sch. 3 para. 26.