Consolidated Annual Report 2016

75 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2016 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2016 (Expressed in Barbados dollars) 63 28. Goodwill Co-operative Credit Union Limited At a Special General Meeting on October 25, 2014, the members of Goodwill Co-operative Credit Union Limited (“Goodwill”) approved the transfer of Goodwill’s assets and liabilities to the Credit Union, in accordance with section 132 of the Co-operative Societies Act. The Credit Union subsequently held a Special General Meeting on January 29, 2015, where its members approved the acceptance of the transfer. The Financial Services Commission effectively approved the cancellation of the registration of Goodwill Co-operative Credit Union Limited on April 16, 2015. The total assets and liabilities of Goodwill are recorded within Other Assets (Note 15) and Other Liabilities (Note 19) and are disclosed within the respective notes.