Functions, obligations and powers of Registrar

(1) The Registrar, shall exercise the following powers and shall perform the following duties– (a) the registration and deregistration of credit (b) the inspection, examination and supervision of 14 Credit Unions Act (c) the regulation of all credit unions; (d) the maintenance of accurate and updated records, including a reliable data bank on (e) monitoring of the performance of all registered credit unions; (f) liaison with all credit unions and the league; and (g) providing assistance and advice as may be necessary to assist federation officers and in due observance of, and compliance with, the provisions of this Act and in the achievement of the objects of their respective credit unions on a cooperative basis. (2) Where the Registrar has reasonable grounds to believe that an affiliate or official of a credit union is committing or pursuing or is about to commit or pursue any act or course of conduct that is detrimental to the interests of the shareholders or depositors, or is a violation of this Act or any regulation, order, directive, instruction or condition imposed by the Registrar, he may require the credit union to perform such actions considered necessary to rectify the situation. (3) The Registrar shall, at the request of any person or group of persons interested in the organization of a credit union under this Act, furnish such information regarding cooperative principles, practices and organizational procedure as will assist in determining the feasibility of the proposed organization and facilitate its incorporation. Credit Unions Act 15