Ms Anne Marie McKiernan:

In line with the regulations introduced on 31 December 2016, as registrar, I have regulation-making powers. Certain aspects which were formerly in legislation can now be dealt with via regulations. The purpose of this was to be more efficient and flexible in the changing environment in the credit union sector, but safeguards are in place such that for any prospective changes in regulations we would, of course, consult with the sector and the Minister's advisory group in advance.