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C-4.1 - Savings and Credit Unions Act
Section 398
Disposition versions
398. A federation and the credit unions affiliated with it are bound to implement the compliance program approved by the Inspector General. In addition, the federation shall be responsible for seeing to it that the program is implemented by the credit unions affiliated with it.
The Inspector General may, while a compliance program is in effect, give a credit union affected by the program and the federation any written instructions he deems appropriate.
Before exercising the power set out in the second paragraph, the Inspector General shall notify the credit union and the federation of his intention and give them an opportunity to present observations.
398. A federation and the credit unions affiliated with it are bound to implement the compliance program approved by the Inspector General. In addition, the federation shall be responsible for seeing to it that the program is implemented by the credit unions affiliated with it.
The Inspector General may, while a compliance program is in effect, give a credit union affected by the program and the federation any written instructions he deems appropriate with respect to the powers exercised by their credit committees.
Before exercising the power set out in the second paragraph, the Inspector General shall notify the credit union and the federation of his intention and give them an opportunity to be heard.
