Acts and Regulations

2016-40 - Credit Unions Act

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NEW BRUNSWICK
REGULATION 2016-40
under the
Credit Unions Act
(O.C. 2016-156)
Filed June 30, 2016
1Subsection 6(1) of New Brunswick Regulation 2001-53 under the Credit Unions Act is amended by striking out “of which the credit union is a member”.
2Paragraph 7(d) of the Regulation is amended by striking out “the federation of which it is a member” and substituting “Atlantic Central”.
3Subsection 14(2) of the Regulation is amended
(a) by repealing the portion preceding paragraph (a) and substituting the following:
14(2)Subsection (1) does not apply in respect of a credit union, Atlantic Central or a loan or trust company that is a subsidiary of Atlantic Central if
(b) in paragraph (a) by striking out “federation” and substituting “Atlantic Central”;
(c) in paragraph (b) by striking out “the federation” and substituting “Atlantic Central”.
4Subparagraph 17(2)(b)(i) of the Regulation is repealed and the following is substituted:
(i) to Atlantic Central or the stabilization board, or to any wholly owned subsidiary of Atlantic Central, for its sole use in carrying out its activities, or