Credit Union (Amendment) Act 2023

Amendment of section 23 of Principal Act (provision for small payments on death)

13.Section 23 of the Principal Act is amended—

(a) in subsection (1), by the substitution of the following paragraph for paragraph (a):

“(a) does not in the whole exceed the amount standing specified, on the date of the member’s death, for the purpose of this subsection in an order made by the Minister under subsection (2).”,

and

(b) by the substitution of the following subsection for subsection (2):

“(2) The Minister may, after consultation with the Advisory Committee and such other body as the Minister considers appropriate in the circumstances, by order specify an amount for the purpose of subsection (1).”.