Tommy Broughan (Dublin North East, Labour) | Oireachtas source

I move amendment No. 31:

In page 34, between lines 14 and 15, to insert the following:"22.—The Principal Act is amended by substituting the following for subsections (1) and (2) of section 64:

"64.—(1) The treasurer of a credit union shall be responsible for ensuring the timely preparation of accounts and their presentation to members at general meetings.".".

The position of treasurer has always been an important position in the credit union movement. There is a feeling among the Irish League of Credit Unions and CUDA, the Credit Union Development Association, that it is an office that should be retained with functions. It is accepted the Bill is proposing additional professional approaches to the management of credit unions. However, there is still a role for the treasurer for ensuring the timely preparation of accounts and their presentation to members at general meetings. The Irish League of Credit Unions made the point to the finance committee that the definition in law of treasurer under the 1997 Act as managing director is inappropriate but does not believe it should be abolished in its entirety. The 1997 Act sets out the role of treasurer as a board member responsible for governance at a strategic and policy level and assigned several operational functions to the office. While the governance and strategic spheres are being separated, a role should be maintained for this historic office. The point has also been made that in many voluntary community organisations, such as the GAA, the treasurer plays an important role while still not being the operational leader. Will the Minister look at the formula put forward in this amendment?

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