Results 2,201-2,220 of 9,393 for speaker:Alex White

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: A social bond.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: I am anxious to move to Mr. Ó Cearbhaill, who has been sitting patiently for quite a while. He is our last witness in a long day.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: I am aware of the 15 year rule regarding dormant accounts. Is there any way of providing a "lock step" in the process? In other words, could there be a step taken just before a determination is made that an account is dormant and available for passing on? A person could put a brake on the process in this way.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: I would appreciate if it was not at too great a length.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: I will not permit a detailed scrutiny of the mechanisms because it is unnecessary for the purposes of what we are doing. I am not saying it is not important or interesting.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: It is, of course, vital in the operation of great credit unions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: It is not vital for our purposes this afternoon. This is a pre-legislative scrutiny of the draft scheme of the credit union Bill 2012.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: I will bring in Mr. Ó Cearbhaill, whom I thank for attending this afternoon and providing his detailed submission. The members have had the opportunity to consider that. I will briefly go through what I see as the key issues but it has been a long day, so if we miss anything, the witness should feel free to elaborate. There is a welcome for the requirement for the Central Bank to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: Regarding head 4(1), we spoke earlier about the withdrawal of shares. There is a reference to non-withdrawable shares in the credit union sector. Can Mr. Ó Cearbhaill explain that to us?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: Another issue raised by one of the earlier witnesses concerns the term provident and productive purposes. Apparently it is no longer included in the scheme. One of the earlier witnesses from University College Cork, UCC, thought it should be retained. Is that the point Mr. Ó Cearbhaill is making?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: On governance, subhead 20(12) requires that directors have a certain level of knowledge, skills and experience. Is that too onerous?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: Does that refer to an industrial credit union rather than a community-based one?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: That is understood. Subhead 20(10) refers to the so-called prohibition. A person may not become a director if the person is a member of the credit union and is in arrears for more than 90 days. Does Mr. Ó Cearbhaill have a difficulty with that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: The CUAC has been examining this very carefully, line by line, which is very helpful. Similarly head 20(11) provides that one is supposed to resign if one falls into the prohibited categories. The point is that this should be a deeming provision if the person does not resign.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: Head 26 concerns a conflict of interest arising from a family relationship.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: Is Mr. Ó Cearbhaill saying that it is automatically a conflict of interest when there is a family relationship?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: In head 28, Mr. Ó Cearbhaill queries the failure to provide for credit unions to have a committee that does not contain a majority of directors. Should provision be made in the Bill for committees comprised of at least one director?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: Head 30(2) deals with stabilisation support. What is the position if one has received stabilisation support in the past ten years?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: Mr. Ó Cearbhaill believes that, in head 30(7), costs should be tightened up.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion (Resumed) (20 Sep 2012)

Alex White: Head 31(1) provides that a body known as the stabilisation committee shall examine the implementation by the Central Bank of its own requirements and procedures in respect of the powers in Part 3. Mr. Ó Cearbhaill believes the legislation should ensure the stabilisation committee is given sufficient power to carry out its duty. Is Mr. Ó Cearbhaill afraid the committee does not...