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

I have already commented on this section. Term limits do not exist anywhere in the OECD in the banking sector and I do not see the need for them in the credit union sector. We have discussed the impact on small credit unions and it is clear the Minister is concerned about this and that it is not the intention of the Bill to put pressure on them. Is there anything in the legislation that would allow for smaller credit unions that would find it difficult to comply to make a case to the Central Bank? The fear is that the term limits will place a huge burden on areas in which there is a small pool of people to serve on the board. We cannot legislate for specific cases, but would the Minister be open to considering such a provision if he insists on proceeding with term limits?