The Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 and its corresponding explanatory notes have been published. This legislation updates the key legislation governing the operation of credit unions and industrial and provident societies (IPSs) in Northern Ireland (the Credit Unions (Northern Ireland) Order 1985 and the Industrial and Provident Societies Act (Northern Ireland) 1969). The changes will give Northern Irish credit unions and IPSs greater operational flexibility and will address the disqualification of directors, so that directors of credit unions can be disqualified in the same way as directors of companies. (Source: The Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 and Explanatory notes)
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