Oireachtas Joint and Select Committees
Thursday, 20 September 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Credit Union Bill 2012: Discussion (Resumed)
3:25 pm
Mr. Padraig Ó Cearbhaill:
There is a reference to non-withdrawable shares. We have never come across non-withdrawable shares. All shares in credit unions are withdrawable provided there is not a loan outstanding against the shares. We think it is a legacy from the old Friends Provident legislation and we suggest it be deleted. I do not think it means anything.