Commentary on Sections and Schedules Minor amendments and repeals
106.Section 51 – Northern Ireland credit unions
107.Schedule 7 makes provision for the supervision and enforcement of relevant persons’ compliance with the requirements of a direction. Section 51 makes amendments to remove those functions in relation to credit unions in Northern Ireland from the Department for Enterprise, Trade and Investment in Northern Ireland. The functions in relation to Northern Ireland credit unions will become exercisable by other enforcement authorities, and arrangements will be made to ensure that they are exercised by the Financial Services Authority.
108.Section 52 – Consequential amendments and repeals.
109.Section 52 introduces Part 2 of Schedule 1, which makes amendments consequential on Part 2 of the Act, and Part 2 of Schedule 2, which contains repeals consequential on Part 2 of the Act.