Versions of s. 39.011(1)

When the Minister issues letters patent continuing a local cooperative credit society as a federal credit union under subsection 35(1), subject to the regulations, the Minister may, on application and by order, subject to any terms and conditions that the Minister considers appropriate, exempt the resulting federal credit union from the application of one or more provisions of Part XII.2 for a period of up to three years from the day on which its letters patent are issued, if the Minister is of the opinion that the resulting federal credit union has an acceptable plan to bring itself into compliance with Part XII.2 within that period.