Credit Union Restructuring Board (Dissolution) Act 2020

Amendment of section 57 of Act of 2012

17. Section 57 of the Act of 2012 is amended—

(a) by the substitution of the following paragraph for paragraph (c) of subsection (2):

“(c) to meet the expenses incurred by the Minister in the performance of his or her functions under this Act and to meet any expenses relating to and associated with the dissolution of ReBo,”,

(b) by the substitution of the following subsection for subsection (4):

“(4) Subject to subsection (4A), the Minister may transfer any moneys from the Credit Union Fund into the Central Fund.”,

(c) by the insertion of the following subsection after subsection (4):

“(4A) Moneys for the provision of stabilisation support in accordance with Part 4 shall not be transferred from the Credit Union Fund to the Central Fund.”,

(d) by the substitution, in subsection (7), of “subsection (6)” for “subsections (5) and (6)”, and

(e) by the substitution, in subsection (8), of “subsection (6)” for “subsections (5) or (6)”.