Related provisions for CREDS 1.1.1

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CREDS 2.2.65GRP
(1) 5SYSC 4.5, SYSC 4.7 and SYSC 4.9 have a number of requirements about the governance and senior management arrangements of relevant authorised persons. (2) A credit union is a type of relevant authorised person.(3) SYSC 4.5, SYSC 4.7 and SYSC 4.9 are summarised in CREDS 2.2.66G to CREDS 2.2.70G.(4) The PRA’s requirements about the subjects dealt with in SYSC 4.5, SYSC 4.7 and SYSC 4.9 are set out in its Rulebook. CREDS does not summarise them.
CREDS 1.1.2GRP
(1) CREDS covers only the requirements associated with a Part 4A permission to accept deposits. The Conduct of Business sourcebook (COBS) sets out additional requirements for credit unions that are CTF providers in relation to cash deposit CTFs.(2) Other permissions are covered elsewhere in the Handbook. So, for example, a credit union seeking a permission to undertake a regulated mortgage activity would need to comply with the requirements in the Mortgages and Home Finance: Conduct
CREDS 1.1.4GRP
CREDS sets out rules and guidance that are specific to credit unions. CREDS 10 refers to other more generally applicable provisions of the Handbook that are likely to be relevant to credit unions with Part 4A permission to accept deposits. For details of these provisions, we would expect credit unions to access the full text in the Handbook.
CREDS 8.3.2GRP
The PRA also has a regime about approved persons in credit unions, which can be found in its Rulebook. CREDS does not summarise the PRA’s regime.2
CREDS 3A.4.1RRP
1A credit union must at all times maintain in force a policy of insurance that complies with the requirements in part 2.10 of the Credit Unions Rulebook Part of the PRA Rulebook.