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C-4.1 - Savings and Credit Unions Act
Section 16
Disposition versions
16. A credit union which decides to disaffiliate from a federation or which is expelled following a decision of the federation with which it is affiliated must, within 60 days of the ratification of the resolution or decision, pass a by-law or resolution, as the case may be, to affiliate with another federation, apply for the incorporation of a new federation, amalgamate with a credit union affiliated with another federation, be wound up or apply to the Minister for an exemption from compliance with section 11.
