Credit Union Act 1997

Acknowledgement or refusal of registration.

8

8.—(1) If the F12[Bank] is satisfied that a society which has made an application for registration as a credit union has complied with the provisions of this Act as to such registration, the F12[Bank] shall issue to the society, as a credit union, an acknowledgement of registration assigning it a registered number.

(2) Unless the contrary is shown, an acknowledgement of registration issued under subsection (1) shall be sufficient evidence that the society concerned is registered as a credit union.

F13[(3) If the Bank refuses to register as a credit union a society that has made an application for registration, it shall, by notice in writing, inform the society of the refusal. The notice must include a statement setting out the grounds for the refusal.]

F13[(4) A decision of the Bank refusing to register a society as a credit union is an appealable decision for the purposes of Part VIIA of the Central Bank Act 1942.]

(5) The F12[Bank] shall enter the name of every credit union in a register maintained for the purposes of this Act (being a continuation of the register kept for the purposes of the Act of 1966).

Annotations

Amendments:

F12

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

F13

Substituted (1.08 2004) by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 10(2) and sch. 1 pt. 7 item 1, S.I. No. 455 of 2004.

Editorial Notes:

E15

Previous affecting provision: subss. (3) and (4) amended by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 35(1) and sch. 1 pt. 24 item 7, S.I. No. 160 of 2003, subject to transitional provisions in s. 36 and sch. 3 para. 26; subsections substituted as per F-note above.