The Credit Unions (Authorised Investments) Order 1993
This Order supersedes the Credit Unions (Authorised Investments) Order 1979.It gives effect to Council Directive 88/361/EEC (OJ No.L 178, 8.7.88, p.5), Article 73b of the Treaty establishing the European Community following the Treaty on European Union signed at Maastricht and the Agreement on the European Economic Area signed at Oporto in respect of the investments in which credit unions can invest their surplus funds. It also removes certain classes of investment (in particular, local authority securities) and makes transitional provision for credit unions who invested their funds in such investments before this Order came into force to be able to continue to hold such investments.