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

An amendment was made to section 11 on Committee Stage in the Seanad to provide for a transitional arrangement whereby an approval by the Central Bank under the existing section 35(2) of the Credit Union Act 1997 in respect of longer-term lending by a credit union would continue to have effect upon commencement of this section. The amendment simply clarifies the existing position in order to put it beyond doubt.

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