Credit Unions (Amendment) Bill

Clause 15 makes provision about resolutions relating to the appointment and removal of auditors, including provision about notice requirements relating to resolutions.

Clause 15 replaces fixed minimum notice periods of 28 days and 14 days, with a power for the minimum number of days’ notice to be specified in each case by regulations set by the Department with the approval of the Assembly.

Clause 15 also sets out the way in which notice of such a resolution is to be given to a credit union’s members, so that the way in which the notice must be given is determined exclusively by reference to the rules of a credit union (as opposed to the current position which gives a credit union a choice between placing an advertisement in a newspaper or choosing a different method permitted by its rules).