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S.I. No. 476/2001 - Credit Union Act, 1997 (Alteration of Financial Limit) Regulations, 2001

I, Noel Treacy, Minister of State at the Department of Enterprise, Trade and Employment, in exercise of the powers conferred on me by section 182 (1)(i) of the Credit Union Act, 1997 (No. 15 of 1997), as adapted by the Enterprise and Employment (Alteration of Name of Department and Title of Minister) Order, 1997 ( S.I. No. 305 of 1997 ), and the Enterprise, Trade and Employment (Delegation of Ministerial Functions) Order, 1998 ( S.I. No. 265 of 1998 ), and following consultation with the Registrar and the Advisory Committee, hereby make the following regulations:

1.       These Regulations may be cited as the Credit Union Act, 1997 (Alteration of Financial Limit) Regulations, 2001.

a)        Section 27 (1)(b) of the Credit Union Act, 1997 (No. 15 of 1997), is amended as respects the period from the commencement of these Regulations to 31 December 2001, by the substitution of “£50” for “£1,000”.

b)       The said section 27(1)(b) (as amended by the Euro Changeover (Amounts) Act, 2001 (No. 16 of 2001)), is amended, with effect from 1 January 2002, by the substitution of “€63” for “€1,250”.

Given under my hand,

25th October, 2001.

_______________________

NOEL TREACY

Minister of State at the

Department of Enterprise, Trade and Employment.

EXPLANATORY NOTE

(This note is not part of the instrument and does not purport to be a legal interpretation)

These Regulations substitutes “£50” for “£1,000” in section 27 (1)(b) of the Credit Union Act 1997 from commencement until 31st December 2001 and “€63” after that date