11 Loans
Credit Unions Act 1979 (1979 c 34) | Legislation

11 Ìý³¢´Ç²¹²Ô²õ

[(1)     [Subject as follows,] a credit union may make . . . a loan, upon such security (or without security) and terms as the rules of the credit union may provide[, to—

(a)     a member, or

(b)     another credit union (whether or not a member)].]

[(1ZA)     Where a loan is made under subsection (1)(b) to a credit union that is not a member of the lending credit union, the maximum period within which the loan must be repaid is six months.]

[(1A)     A credit union may only make a loan

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