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attached shares

83(in CREDS) means any shares in the credit union (other than any deferred shares):

  1. (a) the withdrawal of which is not permitted by section 7(5) of the Credit Unions Act 1979 ; or
  2. (b) the withdrawal of which is not permitted by the terms of a loan made to a member; or
  3. (c) the withdrawal of which is not permitted without seeking and obtaining the permission of the committee of management of the credit union.

Paragraph88 (c) is relevant only where the credit union made a loan to the holder of the shares before the Legislative Reform (Industrial and Provident Societies and Credit Unions) Order 2011 came into force.