20 Cancellation or suspension of registration and petition for winding up
Credit Unions Act 1979 (1979 c 34) | Legislation

20  Cancellation or suspension of registration and petition for winding up

[(1)     Section 5 of the 2014 Act (grounds for cancellation of registration) applies in relation to a credit union as if it were modified as specified in subsections (1ZA) to (1ZD).

(1ZA)     Subsection (1) applies as if for “any of conditions A to E” there were substituted “any of conditions A to F”.

(1ZB)     Subsection (4)(b) (condition C) applies as if after “this Act” there were inserted “or the Credit Unions Act 1979”.

(1ZC)     The section applies as if for subsection (5) (condition D) there were substituted—

“(5)     Condition D is that it appears to the FCA that the credit union's rules provide for one or more common bonds involving a connection with a locality and the requirements of section 1B of the

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