Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Tús maith, leath na hoibre. I welcome the Minister's opening comments on this section of the Bill. My concerns relate more to the next group of amendments we will deal with, submitted by opposition groups, and amendment No. 3 is fundamental in that regard.

I listened to what the Minister had to say on this grouping. When his officials briefed my office on this grouping they explained the consequence of the Bill was to apply the existing legislation applicable to credit unions to the credit unions generally. I understand the enormous wealth of legislation that is in place since 1942. However, there is grave concern that this could be interpreted to include other legislation.

There would be unintended consequences if this were to be interpreted in a broader fashion. There is also the issue that future legislation could be interpreted to apply to the credit unions which may not be the intended cause. I welcome the Minister's comments that he is examining the issue and I understand he asked the Attorney General to examine wording to that effect. It is an issue about which the credit unions are passionate and is fundamental to the Bill. If it were to be interpreted in the broader fashion and yet was not discussed at the Commission on Credit Unions that is also relevant. On the basis that the Minister is examining wording for a possible Report Stage amendment I am satisfied, but I am laying down a marker that this needs to be amended. We all have the same objective to ensure that the legislation that is relevant to credit unions applies but no more than that.