Acts and Regulations

2010-163 - Credit Unions Act

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NEW BRUNSWICK
REGULATION 2010-163
under the
Credit Unions Act
(O.C. 2010-577)
Filed December 23, 2010
1Section 8 of New Brunswick Regulation 94-5 under the Credit Unions Act is amended
(a) in subsection (1) by striking out “the amount maintained by a credit union as liquid assets is less than the amount required under subsection 7(1), the federation of which the credit union is a member” and substituting “the amount maintained as liquid assets by a credit union that is a member of the Fédération des caisses populaires acadiennes is less than the amount required under subsection 7(1), the Fédération des caisses populaires acadiennes”;
(b) in subsection (2)
(i) in the portion preceding paragraph (a) by striking out “a federation may make a loan to a credit union” and substituting “the Fédération des caisses populaires acadiennes may make a loan to a member credit union”;
(ii) in paragraph (a) by striking out “the federation” and substituting “the Fédération des caisses populaires acadiennes”.
2Section 14 of the Regulation is repealed.
3Section 14.1 of the Regulation is repealed.
4Section 17 of the Regulation is repealed and the following is substituted:
17(1)For the purposes of section 168 of the Act, the Fédération des caisses populaires acadiennes may, subject to section 19, make investments authorized by the investment policies it has established for that purpose if the investment policies have been filed with and approved by the Superintendent.
17(2)Notwithstanding subsection (1), the Fédération des caisses populaires acadiennes shall not make investments, in an amount equal to more than 25% of its equity, in the share capital of any body corporate unless the investment is required under a liquidity agreement with another credit union organization and is authorized by the investment policies of the Fédération des caisses populaires acadiennes.
5Section 19 of the Regulation is amended by striking out “a federation” and substituting “the Fédération des caisses populaires acadiennes”.
6Section 20 of the Regulation is repealed.
7Form 1 of the Regulation is amended
(a) by striking out “(FEDERATIONS)” and substituting “(FÉDÉRATION DES CAISSES POPULAIRES ACADIENNES LIMITÉE)”;
(b) by striking out “of federation”;
(c) by striking out “business the federation may carry on, if any” and substituting “business that may be carried on, if any”;
(d) in the French version by striking out “Adresse résidentielle” and substituting “Adresse personnelle”;
(e) in the French version by striking out “Occupation principale” and substituting “Profession principale”.
8Form 2 of the French version of the Regulation is amended
(a) by striking out “Adresse résidentielle” and substituting “Adresse personnelle”;
(b) by striking out “Occupation principale” and substituting “Profession principale”.
9Form 3 of the French version of the Regulation is amended
(a) by striking out “Adresse résidentielle” wherever it appears and substituting “Adresse personnelle”;
(b) by striking out “Occupation principale” and substituting “Profession principale”;
(c) by striking out “les adresses résidentielles” and substituting “les adresses personnelles”.
10Form 5 of the Regulation is amended by striking out “a federation” and substituting “the Fédération des Caisses Populaires Acadiennes Limitée”.
11Form 6 of the French version of the Regulation is amended
(a) by striking out “Adresse résidentielle” wherever it appears and substituting “Adresse personnelle”;
(b) by striking out “Occupation principale” wherever it appears and substituting “Profession principale”;
(c) by striking out “résidentielle(s)” and substituting “personnelle(s)”.
12Form 7 of the Regulation is amended by striking out “a federation” and substituting “the Fédération des Caisses Populaires Acadiennes Limitée”.
13Form 8 of the Regulation is amended
(a) in the French version by striking out “Adresse résidentielle” and substituting “Adresse personnelle”;
(b) in the French version by striking out “Occupation principale” and substituting “Profession principale”;
(c) in the French version by striking out “les adresses résidentielles” and substituting “les adresses personnelles”;
(d) by striking out “a federation” and substituting “the Fédération des Caisses Populaires Acadiennes Limitée”.
14Form 9 of the French version of the Regulation is amended
(a) by striking out “Adresse résidentielle” and substituting “Adresse personnelle”;
(b) by striking out “Occupation principale” and substituting “Profession principale”;
(c) by striking out “les adresses résidentielles” and substituting “les adresses personnelles”.
15Form 10 of the Regulation is amended by striking out “a federation” and substituting “the Fédération des Caisses Populaires Acadiennes Limitée”.
16Form 13 of the French version of the Regulation is amended
(a) by striking out “Adresse résidentielle” and substituting “Adresse personnelle”;
(b) by striking out “résidentielle(s)” and substituting “personnelle(s)”.
17This Regulation comes into force on January 1, 2011.