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Statutory Instruments

2013 No. 2589

Credit Unions

The Credit Unions (Maximum Interest Rate on Loans) Order 2013

Made

8th October 2013

Laid before Parliament

9th October 2013

Coming into force

1st April 2014

The Treasury, in exercise of the powers conferred by section 11(5) and (7) of the Credit Unions Act 1979( 1 ), make the following Order:

Citation and commencement

1. This Order may be cited as the Credit Unions (Maximum Interest Rate on Loans) Order 2013 and comes into force on 1st April 2014.

Maximum interest rate

2. The rate specified for the purposes of section 11(5) of the Credit Unions Act 1979 is three per cent per month.

Revocation

3. This Order revokes the Credit Unions (Maximum Interest Rate on Loans) Order 2006( 2 ).

Desmond Swayne

Stephen Crabb

Two of the Lords Commissioners of Her Majesty’s Treasury

9th October 2013

( 1 )

1979 c. 34 ; section 11(7) was amended by S.I. 2001/2617 .

( 2 )

S.I. 2006/1276 .

1. Citation and commencement

2. Maximum interest rate

3. Revocation

Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

The Credit Unions (Maximum Interest Rate on Loans) Order 2013 (2013/2589)

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