3 Use of name “credit union”, etc

3  Use of name “credit union”, etc

(1)     The name of every society registered as a credit union shall contain the words “credit union” [or, if the rules of the society state that its registered office is to be in Wales, either those words or the words “undeb credyd”].

(2)     Subject to subsection (3) below, a person shall not, unless registered as a credit union,—

(a)     use in reference to himself a name, title or descriptive expression containing the words “credit union” or [“undeb credyd” or] any cognate term or any derivative of those words; or

(b)     represent himself as being a credit union;

and any person who contravenes this subsection shall be guilty of an offence and liable on summary conviction to a fine not exceeding [level 4 on the standard scale].

[(3)     Subsection (2) above does not apply to—

(a)     the use, in reference to itself, of a name, title or descriptive expression by any body corporate

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