Credit Union Act 1997
124.— (1) Subject to subsection (3), every credit union shall, not later than 31st March in each year, send to the F256 [ Bank ] a return relating to its affairs for the most recent complete financial year, together with the annual accounts and a copy of the report of the auditor on the credit union's annual accounts for that financial year.
(2) A return required by this section shall contain, with respect to the financial year to which it relates—
( a) the income and expenditure account prepared in accordance with section 111 (1)(a) ;
( b) the balance sheet as at the end of the financial year prepared in accordance with section 111 (1)(b) ; and
( c) any statement prepared in accordance with section 111 (1)(c) .
(3) If the F256 [ Bank ] is of the opinion that special circumstances exist, F256 [ it ] may by notice in writing allow a credit union to make a return under this section up to a date other than the end of a financial year and, in that case—
( a) subsection (2) shall apply subject to such modifications as may be specified in the notice;
( b) the return shall be sent to the F256 [ Bank ] not later than three months after the date to which it is to be made up; and
( c) the period of the next return (if any) under this section shall begin immediately after that date and end at the end of the financial year in which that date falls;
and, for the purposes of subsection (2), such a return as is referred to in paragraph (c) shall be regarded as made in respect of the financial year referred to in that paragraph.
(4) The last return under this section by a credit union which is being dissolved by an instrument of dissolution under section 135 shall be made up to the date of the instrument of dissolution.
(5) Every credit union shall supply free of charge to every member of the credit union who applies for it a copy of the latest return of the credit union under this section and shall so supply with every such copy a copy of the report of the auditor on the accounts and balance sheet contained in the return.
(6) A credit union which fails to comply with this section shall be guilty of an offence.