Jennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source

I cannot do that at this stage because it is a regulatory matter for the Central Bank to set that out. It would be premature for me to do that. As the Deputy knows, we have been working with the Central Bank very collaboratively on every aspect of this legislation but it is for the Central Bank to set down regulations governing the processes. Therefore, I cannot answer the Deputy's question on this occasion because it is for the Central Bank to answer it and I cannot answer it before Report Stage either.

What I can say is that the Central Bank is very open to engagement and consultation on this and I would encourage Deputy Doherty to have that dialogue with the Central Bank. My officials and I will do everything we can to facilitate that. I cannot answer the Deputy's question today or before Report Stage because it is a matter for the Central Bank.

The Deputy is correct to identify that there have been questions with the Central Bank. It is really important to highlight the fact that, alongside this legislation, we are enhancing the stakeholder forum for credit unions with the Central Bank. This is an ongoing conversation that is happening in tandem with this legislation. It is important to highlight that because the Deputy is correct to identify some of those issues. However, I cannot address them in the legislation.