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

The proposals being brought to Cabinet are specifically for legislation. They concern the 12 topics on which we want to legislate and there is agreement on those. After the proposals have been brought to Cabinet, I hope they will go for pre-legislative scrutiny as quickly as possible. On the timeline for getting the legislation through the Dáil in the second half of this year, the pre-legislative scrutiny process could take a day, a week or four or five months. That is outside my control. I know the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach has a very heavy workload. I ask the committee to prioritise pre-legislative scrutiny of the proposed legislation as soon as possible, so that we can get it through the Houses and enacted. The legislation will contain an element on a service level agreement between the Central Bank and the credit union movement, which does not exist currently. When a credit union contacts the Central Bank about a particular project or a new product it wants to offer, a timeline will be set out in the service level agreement. Currently, the process is open-ended. Many practical measures are being introduced in the legislation. I take on board the Deputy's point on the role of the Central Bank. It applies to banking as well.

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