sec.36Continuation and abolition of particular funds

sec.36 Continuation and abolition of particular funds

The following funds continue in existence on and after the transfer date despite the commencement of section 17— Building Societies Fund Credit Unions Contingency Fund Supervision Fund. However— when the payment mentioned in section 37 has been made, the Building Societies Fund is abolished; and when the payments mentioned in section 38(3) have been received by each credit union, the Credit Unions Contingency Fund is abolished; and when the payment mentioned in section 40 has been made, the Supervision Fund is abolished. (sec.36-ssec.1) The following funds continue in existence on and after the transfer date despite the commencement of section 17— Building Societies Fund Credit Unions Contingency Fund Supervision Fund. (sec.36-ssec.2) However— when the payment mentioned in section 37 has been made, the Building Societies Fund is abolished; and when the payments mentioned in section 38(3) have been received by each credit union, the Credit Unions Contingency Fund is abolished; and when the payment mentioned in section 40 has been made, the Supervision Fund is abolished.

• • Building Societies Fund
• • Credit Unions Contingency Fund
• • Supervision Fund.
• (a) when the payment mentioned in section 37 has been made, the Building Societies Fund is abolished; and
• (b) when the payments mentioned in section 38(3) have been received by each credit union, the Credit Unions Contingency Fund is abolished; and
• (c) when the payment mentioned in section 40 has been made, the Supervision Fund is abolished.