Credit Union Act, 1997

Power of Minister to make further provision about accounts and audit.

121.—The Minister, after consultation with the Advisory Committee and such other bodies as appear to him to be expert or knowledgeable in matters relating to credit unions, may by regulations make provision with respect to the annual accounts of credit unions and to their audit and, without prejudice to the generality of the power, any such regulations may—

(a) add to the documents to be comprised in the annual accounts of a credit union prepared with respect to a financial year under section 111 ;

(b) make further provision as to the matters to be included in any document comprised in a credit union's annual accounts; and

(c) make further provision in relation to accounting principles and rules for the preparation of annual accounts including, if the Minister considers it necessary or desirable, adherence to particular formats of presentation.