NEWFOUNDLAND AND LABRADOR
REGULATION 2/24

Credit Union Regulations, 2009 (Amendment)
under the
Credit Union Act, 2009

(Filed January 19, 2024)

Under the authority of section 193 of the Credit Union Act, 2009, I make the following regulations.

Dated at St. John’s, January 19, 2024.

Sarah Stoodley
Minister of Digital Government and
Service Newfoundland and Labrador

REGULATIONS

Analysis

        1.   S.2 Amdt.
Definitions

        2.   S.9.1 Amdt.
Other classes of shares

        3.   S.12 Amdt.
Unclaimed balances

NLR 56/09
as amended

        1. Paragraph 2(g) of the Credit Union Regulations, 2009 is repealed and the following substituted:

             (g)  "residential property" means a building that

                      (i)  has no more than 4 private dwelling units, and

                     (ii)  the primary use of which is residential.

        2. Subsection 9.1(2) of the regulations is amended by deleting the word "superintendent" wherever it appears and substituting the words "guarantee corporation".

 

        3. Subsection 12(1) of the regulations is amended by deleting the word "may" and substituting the word "shall".

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