Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I am happy to clarify that. There are two positions here. There is the interim period, which is only for this round of AGMs up to the end of April. It can be extended if the Minister considers it necessary to do so, but it is on the basis that we will get there by the end of April next year. The only power being given to the board of directors is to proceed with an AGM. The issue of proxy votes is specifically covered in section 11. Subsection (1) states: "Subject to subsection (3), a credit union may allow in its rules for any member of the credit union entitled to attend and vote at a general meeting of the credit union to be entitled to appoint another person (whether a member or not) as his or her proxy to attend and vote instead of him or her." In simple English, that says the credit union may allow it in its "rules", which is the important word. The board of directors cannot do this if it is not already in the rules of the credit union. It cannot introduce proxy votes unless it is in the rules, and we are not aware of any credit union in Ireland that has this in its rules. The issue never came to the fore before now. Second, it will be up to the members at a future AGM to change the rules for subsequent meetings. It is strictly the members, and it cannot apply in the interim period because the board of directors does not have the power to change those rules. If it is not in the rules, it cannot happen.

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