CRED 15 Annex 1 Enforcement Powers
SUBJECT |
SECTION OF THE RELEVANT ACTS |
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CANCELLATION OR SUSPENSION OF REGISTRATION |
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Power to cancel the registration of a credit union |
Industrial & Provident Societies Act 1965, s.16 as applied by Credit Unions Act 1979, s.20(1) |
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Power to suspend the registration of a credit union |
Industrial & Provident Societies Act 1965, s.17 as applied by Credit Unions Act 1979, s.20(1) |
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INSOLVENCY PROCEEDINGS |
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Provision of information: when a credit is in receivership |
Industrial & Provident Societies Act 1965, s.43 |
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Provision of information: when a credit union is subject to a creditors' voluntary liquidation |
Industrial & Provident Societies Act 1965, s.59 |
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INFORMATION GATHERING AND INVESTIGATION POWERS |
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Power to require information from individuals who are, or have been, officers of a credit union |
Industrial & Provident Societies Act 1965, s.48 extended by Credit Unions Act 1979, s.17(1) |
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Power to appoint an investigator to look into the affairs of a credit union |
Industrial & Provident Societies Act 1965, s.49 extended by Credit Unions Act 1979, s.18(1) |
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AUDITING OF ACCOUNTS |
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Power to require the financial accounts of a credit union for past years to be audited |
Industrial & Provident Societies Act 1965, s.9(c) |
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COMPULSORY WINDING UP |
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Power to petition the court for the winding up of a credit union |
Credit Unions Act 1979,s.20(2) |
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PROSECUTION OF CRIMINAL OFFENCES |
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Power to prosecute offences under the Industrial & Provident Societies Act 1965, Industrial & Provident Societies Act 1968 and the Credit Unions Act 1979 |
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