Credit Union and Co-operation with Overseas Regulators Act 2012


Interpretation ( Part 4).

61.— In this Part—

“costs” include costs incurred by the Bank in the exercise of its functions under this Part;

“reserve requirement” means the reserves which a credit union is required to hold under section 45 of the Principal Act;

“Stabilisation Committee” has the meaning given by section 66 ;

“stabilisation support” means financial support provided under this Act by the Minister from the Credit Union Fund to a credit union for the purpose of restoring and facilitating the maintenance of that credit union’s reserve requirement, and such support by the Minister may include the provision of technical and financial advice and the provision of financial support to the credit union concerned.