Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

A number of amendments were made to section 4 on Committee Stage in the Seanad. These amendments mirror subsections (6) to (8) of section 14 of the Credit Union Act 1997 and provide for changes to the rules of credit unions consequential on the provisions of the Bill.

Amendment No. 4 clarifies that during the first year following the commencement of this section, the rules of the credit union may be amended by a resolution of the board of directors rather than by the members of the credit union where such changes are necessary to comply with the provisions of the Bill. Amendment No. 48 provides for a reduction in the number of board members from 15 to 11 by amendment to the rules of the credit union.

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