Credit Union Act 1997

Procedural matters.

141

141.— (1) The whole or any part of any proceedings under this Part, or an appeal in relation thereto, may be heard otherwise than in public if the Court considers that the interests of the credit union concerned or its members or creditors or the public interest so requires.

(2) If at any time no rules of court in respect of the making of an administration order under this Part are in force, then, subject to section 138 (4) and subsections (3) and (4), the provisions of Order 74 of the Rules of the Superior Courts (S.I. No. 15 of 1986), or any rules of court for the time being amending or replacing that Order, shall apply with any necessary modifications.

(3) Unless the Court otherwise directs—

( a) a petition under section 137 (1) shall be served only on the credit union; and

( b) on the hearing of such a petition, only the F286 [ Bank ] and the credit union concerned shall be entitled to be heard.

(4) In so far as the provisions of any such Order or other rules of court as are referred to in subsection (2) relate, in the case of an official liquidator, to the giving of security, the filing of accounts, the lodging of monies to a bank account or the fixing of the remuneration of the liquidator, those provisions shall not apply in the case of an administrator.