S.I. No. 453/2006 - Credit Union Act 1997 (Alteration of Financial Limits) Order 2006

S.I. No. 453 of 2006

ORDER

entitled

Credit Union Act 1997 (Alteration of Financial Limits) Order 2006

Made by the Minister for Finance

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 27(5) of the Credit Union Act 1997 (No. 15 of 1997), hereby order as follows:

1.        This Order may be cited as the Credit Union Act 1997 (Alteration of Financial Limits Order 2006.

2.         Section 27 of the Credit Union Act 1997 (No. 15 of 1997) is amended -

(a)      in subsection (2) by substituting “100 per cent.” for “75 per cent.”, and

(b)      in subsection (4) (as amended by section 6 of the Euro Changeover (Amounts) Act 2001 (No. 16 of 2001)) by substituting -

(i)        “€100,000” for “€26,000” in paragraph (a), and

(ii)        “€200,000” for “€64,000” in paragraph (b).