Kieran O'Donnell (Limerick City, Fine Gael)

I welcome amendment No. 6. The credit union movement provides a vital role across the economy, particularly through their local ethos. That must be balanced by ensuring the credit union movement is financially sound. I welcome the appeal mechanism that is being considered by the commission and the Minister. An appeal mechanism might allow the regulator to do his or her job but allow an appeal after any examination. That would allow the regulator to do his job while allowing the credit union to put forward a case according to its circumstances. Such an appeal mechanism might work. Overall, we are all committed to the retention of the ethos of the credit union movement while balancing it with financially stability, collectively and individually. The credit union movement does outstanding work and I welcome this amendment.

See this speech in context