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Status: You are viewing the version of the handbook as on 2009-03-31.

CRED 15 Annex 1 Enforcement Powers

G

SUBJECT

SECTION OF THE RELEVANT ACTS

CANCELLATION OR SUSPENSION OF REGISTRATION

Power to cancel the registration of a credit union

Industrial & Provident Societies Act 1965, s.16 as applied by Credit Unions Act 1979, s.20(1)

Power to suspend the registration of a credit union

Industrial & Provident Societies Act 1965, s.17 as applied by Credit Unions Act 1979, s.20(1)

INSOLVENCY PROCEEDINGS

Provision of information: when a credit is in receivership

Industrial & Provident Societies Act 1965, s.43

Provision of information: when a credit union is subject to a creditors' voluntary liquidation

Industrial & Provident Societies Act 1965, s.59

INFORMATION GATHERING AND INVESTIGATION POWERS

Power to require information from individuals who are, or have been, officers of a credit union

Industrial & Provident Societies Act 1965, s.48 extended by Credit Unions Act 1979, s.17(1)

Power to appoint an investigator to look into the affairs of a credit union

Industrial & Provident Societies Act 1965, s.49 extended by Credit Unions Act 1979, s.18(1)

AUDITING OF ACCOUNTS

Power to require the financial accounts of a credit union for past years to be audited

Industrial & Provident Societies Act 1965, s.9(c)

COMPULSORY WINDING UP

Power to petition the court for the winding up of a credit union

Credit Unions Act 1979,s.20(2)

PROSECUTION OF CRIMINAL OFFENCES

Power to prosecute offences under the Industrial & Provident Societies Act 1965, Industrial & Provident Societies Act 1968 and the Credit Unions Act 1979

Credit Unions Act 1979,s.28 1