C-4.1 - Savings and Credit Unions Act

Section 231 Disposition versions

1998-04-01

231. Where the Inspector General considers that the capital base of a credit union not affiliated with a federation is below the level applicable to it or where he is of the opinion that its capital base is inadequate in view of its operations, he may order the credit union to adopt a compliance program within the time he prescribes and for the reasons he indicates.

Before exercising the power set out in the first paragraph, the Inspector General shall, as prescribed by section 5 of the Act respecting administrative justice (chapter J-3), notify the credit union of his intention and give it an opportunity to present observations.

1988, c. 64, s. 231; 1996, c. 69, s. 180; 1997, c. 43, s. 111.

1997-02-15

231. Where the Inspector General considers that the capital base of a credit union not affiliated with a federation is below the level applicable to it or where he is of the opinion that its capital base is inadequate in view of its operations, he may order the credit union to adopt a compliance program within the time he prescribes and for the reasons he indicates.

Before exercising the power set out in the first paragraph, the Inspector General shall notify the credit union of his intention and give it an opportunity to present observations.

1988, c. 64, s. 231; 1996, c. 69, s. 180.

1989-03-15

231. Where the Inspector General considers that the capital base of a credit union not affiliated with a federation is below the level applicable to it or where he is of the opinion that its capital base is inadequate in view of its operations, he may order the credit union to adopt a compliance program within the time he prescribes and for the reasons he indicates.

Before exercising the power set out in the first paragraph, the Inspector General shall notify the credit union of his intention and give it an opportunity to be heard.

1988, c. 64, s. 231.