Credit Union Act, 1997

Investigation of complaints.

127.—(1) The Minister may by regulations, made after consultation with the Registrar, the Advisory Committee and such other bodies as appear to him to be expert or knowledgeable in matters relating to credit unions, require a credit union to establish or join in establishing a scheme or schemes for the investigation of complaints against the credit union in relation to a prescribed matter of complaint.

(2) Without prejudice to the generality of subsection (1), regulations under this section may make provisions in relation to any one or more of the following—

(a) the establishment and administration of a scheme;

(b) the manner of appointment of an independent adjudicator to conduct investigations;

(c) the matters to be subject to investigation under the scheme;

(d) the grounds on which a complaint must be based;

(e) the powers of, and procedure to be followed in the conduct of investigations by, the adjudicator;

(f) the circumstances in and the extent to which determinations are binding;

(g) the procedures for the making of complaints;

(h) the publication of the adjudicator's findings; and

(i) the approval of the scheme by the Registrar.

(3) The reference of a complaint under a scheme established under this section shall not affect the rights of a member to have such a dispute as is referred to in subsection (1) of section 125 determined as provided for by the rules of the credit union, but any such dispute that relates to a matter covered by such a scheme may, if both the complainant and the credit union agree, instead of being so determined be determined under such a scheme, such determination being binding on both parties.