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Amendment of section 7 of Principal Act (application for registration as a credit union)
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5. Section 7 of the Principal Act is amended—
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(a) in subsection (1), by the substitution of “Subject to subsection (1A), an application” for “An application”,
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(b) by the insertion of the following subsection after subsection (1):
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“(1A) An application for the registration of a society as a credit union pursuant to section 6(6) shall be made to the Bank and shall be signed on behalf of each credit union which is a member of the society by the secretary of each such credit union.”,
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and
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(c) in subsection (2), by the substitution of “An application under subsection (1) or (1A)” for “An application under subsection (1)”.
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