Credit Union Act 1997
Requirements applicable to credit unions providing additional services.
51.—(1) A credit union shall not make or offer to make a loan to a member subject to a condition that any additional services which the member may require (whether or not in connection with the loan) shall be provided by (or through the agency or assistance of) the credit union.
(2) Where, in connection with a loan by a credit union, any additional services are made available by a credit union, the credit union shall not make those services available except on terms which distinguish the consideration applicable to each service which is so made available.
Annotations
Amendments:
F132
Inserted by Credit Union (Amendment) Act 2023 (34/2023), s. 26, not commenced as of date of revision.
Modifications (not altering text):
C16
Prospective affecting provision: s. 51A inserted by Credit Union (Amendment) Act 2023 (34/2023), s. 26, not commenced as of date of revision.
Editorial Notes:
E51
The section heading is taken from the amending section in the absence of one included in the amendment.