Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The Minister of State, Deputy Fleming, has done a great job. I have been happy to support and help him in this work and to engage with the credit union movement on bringing forward some very practical changes which are being well received by our credit unions. As I said to Deputy Durkan a moment ago, there is clearly a great deal of change happening organically in our credit union movement, for example in the new loans they are providing and the new sectors they are engaging with.

On the point that the Chairman has made on the SEAR legislation and the breadth of who it will cover, it is of course open to the Central Bank to determine who it brings into the breadth of this in the time ahead. In fairness, a great number of institutions will be coming under the coverage of this legislation when it is brought in. There is a case to be made for getting that right first before we bring in new organisations or institutions into that.