Credit Union Act 1997

99

F320[Appeals against cancellation or suspension.

99.—(1) The following decisions are appealable decisions for the purposes of Part VIIA of the Central Bank Act 1942:

(a) a decision of the Bank under section 97(3) or section 98(3) proposing to cancel or suspend the registration of a credit union;

(b) a decision of the Bank under section 98(1)(b) renewing the suspension of the registration of a credit union so that the suspension extends beyond 3 months from when the suspension began.]

(2) If the F321[Bank], under section 98 (1)(b), renews the suspension of the registration of a credit union so that the suspension will extend beyond the period of three months from the date when the suspension began, the credit union may, within 30 days from the date of publication under section 98 (4) of notice of the renewal of the suspension, appeal to the Court against the renewal.

(3) F322[…]

Annotations

Amendments:

F320

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 7, S.I. No. 455 of 2004.

F321

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

F322

Deleted (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 7, S.I. No. 455 of 2004.

F323

Substituted by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 10(2) and sch. 1 pt. 7 item 7, S.I. No. 455 of 2004, not commenced as of date of revision.

Modifications (not altering text):

C33

Prospective affecting provision: subs. (2) substituted by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 10(2) and sch. 1 pt. 7 item 7, not commenced as of date of revision.

F323[(2) A decision cancelling the registration of a credit union does not take effect until—

(a) the end of the period within which an appeal against the decision may be lodged under Part VIIA of the Central Bank Act 1942, or

(b) if an appeal is lodged against the decision within that period—

(i) the confirmation of the decision by the Irish Financial Services Appeals Tribunal on the hearing of the appeal, or

(ii) the withdrawal of the appeal,

whichever first occurs.]

Editorial Notes:

E88

Previous affecting provision: subs. (1) amended (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 65, S.I. No. 160 of 2003, subject to transitional provisions in s. 36 and sch. 3 para. 26; substituted as per F-note above.