Amendment of section 63A of Principal Act (manager of credit union)
34. Section 63A of the Principal Act is amended by the insertion of the following subsections after subsection (5):
“(6) Subject to subsection (7), the board of directors of a credit union may appoint the manager of the credit union to be a member of the board of directors for such term as they determine.
(7) Where a person appointed under subsection (6) ceases to be a manager of the credit union concerned, that person shall immediately upon such cessation cease to be a member of the board of directors of that credit union.”.
