UK: credit union and industrial and provident societies - Legislative Reform Order published

HM Treasury has published its proposals for a Legislative Reform Order (LRO) for Credit Unions and Industrial & Provident Societies in Great Britain. The LRO will make changes to the Credit Unions Act (1979), Industrial & Provident Societies Act (1965) and Friendly and Industrial & Provident Societies Act (1968). For further information, click here.  

Note: The Financial Services Authority has welcomed the publication of the LRO and, in a press release issued today, states that it will publish a consultation paper in the autumn concerning changes to its rules arising from the changes proposed in the LRO.