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Newfoundland Regulation 1996


NEWFOUNDLAND REGULATION 31/96

NEWFOUNDLAND REGULATION 31/96

Credit Union Deposit Guarantee Corporation
Regulations (Amendment)

under the
Co‑operative Societies Act

(Filed April 16, 1996)

Under the authority of section 72 of the Co‑operative Societies Act, I make the following regulations.

Dated at St. John's, April 15, 1996.

Ernest McLean
Minister of Government Services and Lands

REGULATION

Analysis


        1.   S.4 Amdt.
Directors


CNR 800/96

        1. Subsection 4(1) of the Credit Union Deposit Guarantee Corporation Regulations is repealed and the following substituted:

Directors

        4. (1) The directors of the corporation shall be appointed by the minister and shall consist of

             (a)  the registrar;

             (b)  the deputy registrar;

             (c)  one other member nominated by the minister to serve at the pleasure of the minister; and

             (d)  3 members nominated by the Board of Directors of the Credit Union Central of Newfoundland and Labrador, provided that the nominees are not directors or employees of the Credit Union Central of Newfoundland and Labrador or of any credit union, to serve for a term of 3 years, unless removed by the minister.