67.— F179[(1) Without prejudice to section 56A, the board of directors shall appoint—

(a) a credit committee, which shall decide on applications for credit;

(b) a credit control committee, which shall seek to ensure the repayment of loans by members of the credit union in accordance with their loan agreements; and

F180[(c) a membership committee which shall determine applications for membership of the credit union that have been rejected under a process referred to in section 17(9);]

and the Third Schedule shall apply to the committees.]

(2) The record of applications for credit furnished by a credit officer under section 65 (2) shall be considered by the credit committee at its next following meeting and become part of the records of the credit union.

(3) F181[…]