Credit Union Act 1997

Orders and regulations.

3

3. (1) Any power under this Act to make an order includes power to amend or revoke an order made in the exercise of that power.

(2) Every order or regulation made under this Act, other than an order under section 1 (2) , shall be laid before each House of the Oireachtas as soon as practicable after it is made; and, if a resolution annulling the order or regulation is passed by either such House within the next twenty-one days on which that House has sat after the order or regulation is laid before it, the order or regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.

(3) Except in so far as any provision of this Act otherwise provides, any power conferred by this Act on the F2 [ Bank ] to give directions shall be exerciseable by rules and for the purposes of section 2 of the Statutory Instruments Act, 1947, any rules made by the F2 [ Bank ] under this Act shall be taken to be of a character which affects a class of the public.

(4) Any order, regulation, direction or rules made under this Act—

( a) may contain such consequential, supplementary and ancillary provisions as the Minister or, as the case may be, the F2 [ Bank ] considers necessary or expedient; and

( b) may make different provision for different cases or descriptions of cases.

Annotations:

Amendments:

F2

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

Modifications (not altering text):

C4

Application of subs. (2) extended (19.12.2012) by Credit Union and Co-operation with Overseas Regulators Act 2012 (40/2012), s. 2(2), S.I. No. 557 of 2012.

Commencement.

2.— ...

(2) Notwithstanding the commencement of the Principal Act, the provisions of section 3(2) of the Principal Act relating to an order under section 1(2) of that Act apply to an order made under this section.