Schedule 14, paragraph 8(1)

This section applies where— a credit union enters into an agreement mentioned in section 11E(1) with a member of the credit union, and at the time the agreement is entered into, the member’s paid-up shareholding in the credit union is equal to or greater than the member’s total liability (including contingent liability) to the credit union.

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Source: legislation.gov.uk · retrieved 2026-09-04