Oireachtas Joint and Select Committees

Thursday, 20 September 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Credit Union Bill 2012: Discussion (Resumed)

1:30 pm

Ms Noreen Byrne:

That is what I am saying also. It is very difficult to be prescriptive in the legislation on viability. An unclear definition of viability makes it very difficult to manage a credit union because one is never sure from day-to-day whether one is actually viable. One assumes oneself that one is viable according to one's own criterion but the Central Bank is setting the criteria. There is almost shifting sand underneath one.