Regulatory AlertsCredit Unions Act (Belize, Revised Edition 2011)
The Government of Belize enacted the Credit Unions Act to regulate the registration, administration, and operation of credit unions as bodies corporate adhering to cooperative principles. The legislation establishes the Registrar of Credit Unions with supervisory powers, defines membership and management structures, and mandates prudential standards for financial safety and soundness. It further outlines procedures for audits, dispute resolution, reconstruction, and winding up, while prescribing penalties for offenses such as fraud and non-compliance.
Share