Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

As I said, we support the legislation. There has been engagement in the House but there has also been engagement with the Department regarding the concern about proxy voting. It goes against the stated intention of the movement. There are issues with Covid and the facilitation of online AGMs, but I will take that out of the equation because we are not concerned about that. There will be support for this legislation across the House, so I am sure we will be able to conclude it in due course. There are only two or three core issues.

The Minister of State said that the legislation is not instructing or compelling credit unions to facilitate proxy voting. However, proxy voting goes to the core of the function of a credit union. It is about having one's account and shares, and one member with one vote. It is that ownership model. As has been pointed out, there could be a situation now where an individual, a non-member of a credit union and perhaps somebody who has a conflicting position to the credit union, could have up to 200 votes at an AGM. That is a theoretical position, but it is allowed.

When I look at the legislation, I wonder if it is fair. The Minister of State is just empowering the credit unions to decide themselves. Is he empowering the membership of the credit unions or empowering the credit union board? Who decides whether proxy voting will be facilitated in any credit union in the State? Is it at the AGM? If it is, proxy voting cannot happen because the decision has not been made at that point. Is it prior to the AGM? That would mean the membership of the credit union would not have a say on a fundamental change in that credit union regarding how voting would be carried out, how key positions would be elected and how the positions of the credit union would be agreed. I seek clarification on that matter.

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