[1 Registration]
Credit Unions Act 1979 (1979 c 34) | Legislation

Registration as a credit union

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(1)     [A society may be registered under the Co-operative and Community Benefit Societies Act 2014 (“the 2014 Actâ€) as a credit union if—]

(a)     it is shown to the satisfaction of the [FCA] that the conditions specified in subsection (2) below are fulfilled;

[(aa)     the society has at least 21 members;]

(b)     the rules of the society comply with section 4(1) below; . . .

(c)     the place which under those rules is to be the society's registered office is situated in Great Britain;

[(d)     the society has made an application [for permission under Part 4A] of the Financial Services and Markets Act 2000 (in this Act referred to as “the 2000 Actâ€) to accept deposits; . . .]

[(e)     the FCA is satisfied that, once registered under [the 2014 Act], the society will satisfy, and continue to satisfy, the threshold conditions (within the meaning of section 55B(1) of the 2000 Act) for which

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