CRED TP 1 Transitional provisions

1

Every rulein the Handbook relating to acredit union

R

Where a transitional provision in theHandbookrefers tocommencement, in relation to a credit union it meanscredit unionsday.

From credit unionsday

varies depending onruleconcerned

2

As for 1

G

Where a rule applies to a credit union, its related transitional provision will also apply. The effect of paragraph 1 is to ensure that the transitional provision applies from credit unionsday (and not from the earlier date of commencement).

As for 1

As for 1

3

CRED 15.5

CRED 15 Annex 3 G

G

The FSA will not impose financial penalties upon credit unions for the late submission of:(1) quarterly returns made up for quarters ending before 1 July 2003;(2) the complaints handling report for the period ending 31 March 2003.

from 1 October 2002

credit unionsday

4

CRED 17.6.5 R

R

In the year ending 31 March 2003, the relevant period is from 1 October 2002 to 31 March 2003.

from 1 April 2003

credit unions day21

53

CRED 7A.3.1 R and CRED 7A.3.1A G3

R3

CRED 7A.3.1 R and CRED 7A.3.1A G shall have no effect unless and until any amendment to the CTF Regulations is made to allow a credit union to provide cash deposit CTFs.3

1 December 20043

1 December 20043