Schedule 14, paragraph 8(2)

A credit union may only enter into an agreement mentioned in subsection (1) with a corporate member if— the credit union’s rules provide that it may do so, and entering into the agreement would not result in the aggregate of the outstanding balances under all such agreements made by the credit union with corporate members exceeding 10% of the aggregate of the outstanding balances under all such agreements made by the credit union with members, or such higher percentage as may be specified in regulations made by the Treasury.

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