Pearse Doherty (Donegal South West, Sinn Fein)
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That is true. We value the fact that the credit union movement is a democratic movement, and strong regulation is important and must be robust. The legislation includes additional responsibilities and fitness and probity tests for people in this capacity in the credit union movement but this is not the issue I am raising. We need to be careful about the impact of this. On Second Stage the Minister stated he would re-examine this issue and I was heartened by his comments. In response to my parliamentary question he stated he would be willing to examine this. I hope the Minister is open to listening to us and members of the credit union movement and to examine international best practice.

I urge the Minister to support the amendments we have tabled. If he, his advisers or the Central Bank do not feel this is the best set of proposals to reach the desired outcome I would be open to examining proposals made by the Minister. As Deputy McGrath stated, the Bill proposes restrictions on those who work voluntarily in the credit union. It also proposes restrictions on people working voluntarily for another organisation serviced by a credit union. Amendment No. 32 stipulates individuals in arrears for more than 90 consecutive days are not eligible to become directors. We do not state volunteers should not comply with any of the other regulations laid down or with the test to ensure they are fit and proper to hold responsibility, but there is a failure to recognise, quantify or imagine the problem this could cause to voluntary organisations in small and rural communities which find it extremely difficult because the number of those passionate about credit unions is small. I hope the Minister will be as open to these suggestions as he has been to suggestions made earlier.