AI Summary of 2. Interpretation.
This document sets out defined terms used in the Credit Union Acts 1997 to 2012. It defines Acts (Act of 2014 = Companies Act 2014; Act of 1966 = Credit Union Act 1966), institutions (Bank = Central Bank of Ireland; Court = High Court; Minister = Minister for Finance), corporate forms (company, subsidiary), credit union concepts (credit union, corporate credit union, common bond, register/registered, share, savings, debentures), persons and roles (board of directors, chair, manager, officers, voluntary assistant, member of the family) and meeting and representation rules including proxy and electronic participation.
It also defines regulatory and governance instruments and functions: annual accounts and returns, annual/general/special general meetings, special resolution, rule amendments, prescribe powers for Minister and Bank, regulatory directions, restructuring proposal, financial services legislation, risk management system and officer, compliance officer, internal audit charter/function/plan, business continuity, operational risk, principal committees, nomination and board oversight committees, public body, pass book and interpretation rules on references to Parts, sections, subsections and enactments.
2. Interpretation.
Amendments (requiring commencement) by s. 3 of the Credit Union (Amendment) Act 2023 (No. 34), published 13 December 2023.
(1) In the Credit Union Acts 1997 to 2012 -
"Act of 2014" means the Companies Act 2014;
"Act of 1966" means the Credit Union Act, 1966;
"Advisory Committee" means the committee established under section 180;
"amendment", in relation to the rules of a credit union, includes a new rule, and a resolution rescinding a rule, of the credit union;
"annual accounts" has the meaning given by section 111 (6);
"annual general meeting" has the meaning given by section 78 (1);
"annual return" means the annual return which a credit union is required by section 124 to send to the Bank;
"Bank" means the Central Bank of Ireland;