BILL 78

An Act to Amend the Credit Unions Act

Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:

1 The Credit Unions Act, chapter C-32.2 of the Acts of New Brunswick, 1992, is amended by adding after section 215 the following:

Agent of Crown

215.1 The Corporation is, for all purposes, an agent of Her Majesty in right of the Province.

CONSEQUENTIAL AMENDMENT AND COMMENCEMENT

Amendment to the Proceedings Against the Crown Act

2 Section 1 of the Proceedings Against the Crown Act, chapter P-18 of the Revised Statutes, 1973, is amended in the definition “Crown corporation” by adding a comma followed by “the New Brunswick Credit Union Deposit Insurance Corporation” after “the New Brunswick Securities Commission”.

Commencement

3 This Act shall be deemed to have come into force on October 31, 2008.