1979-80

CHAPTER

An Act to amend The Credit Union Act (Assented to April 29, 1980) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Saskatchewan, enacts as follows:

Short title This Act may be cited as The Credit Union Amendment Act, 1980. Rev. Stat. c. C-45 The Credit Union Act is amended in the manner set forth in this Act.

Section amended The following clause is added after clause 24(1)(c): “(c.1) sell fixed term annuities to its members ”.

Section amended Subclause 31(1)(a)(ii) is repealed and the following substituted: “(ii) secretary-treasurer, who shall not be a director; and”.

Section amended The following subsection is added after subsection 75(3): “(4) Subsections (2) and (3) do not apply to moneys held to the credit of a member and which qualify as: (

a) a Registered Retirement Savings Plan; (

b) a Registered Home Ownership Savings Plan; or (

c) a Registered Retirement Income Fund; as described in the Income Tax Act (Canada), as amended from time to time”.

Section amended Subsection 105(1) is amended by striking out: (a) “ dividend,” in the third line; (

b) the fourth line; and (c) “ bylaws,” in the fifth line; and substituting “dividend”. UNEDITED REGINA, SASKATCHEWAN Printed by the authority of THE QUEEN’S PRINTER