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Notice of Proposed New Legislation for the Credit Union Sector

Published: Friday November 15th, 2013

On November 15, 2013, the Central Bank released a Consultation Paper on the transition of co-operative credit unions to the supervisory remit of the Central Bank. A compendium of draft Bills and Regulations have been prepared with a view to providing an appropriate legislative framework to undergird the Central Bank’s oversight of the credit union sector.

The following draft Bills and Regulations are annexed to the Consultation Paper: the Bahamas Co-operative Credit Unions Bill, 2013, the Bahamas Co-operative Credit Unions Regulations, 2013, the Co-operative Societies (Amendment) Bill, 2013 and the Central Bank of The Bahamas (Amendment) Bill, 2013.

Comments on the draft Bills and Regulations may be submitted to the Central Bank by 13th December, 2013.