Amendment of section 129 of Principal Act (transfer of engagements between credit unions)
61.Section 129 of the Principal Act is amended by the substitution of the following subsection for subsection (1):
“(1) Subject to compliance with section 130—
(a) a credit union, other than a corporate credit union, may transfer its engagements to another credit union which, in accordance with this section, undertakes to fulfil the engagements, and
(b) a corporate credit union may transfer its engagements to another corporate credit union which, in accordance with this section, undertakes to fulfil the engagements.”.
