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Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 96: In page 60, line 31, after “unions” to insert “in respect of the matters so prescribed”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 97: In page 61, to delete lines 8 to 17 and substitute the following:“(3) A person shall be appointed to the board of directors for the purposes of this section by being co-opted by the board of directors and such director shall hold office from the date of the appointment to the next following annual general meeting of the credit union or, if it is earlier, the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 98: In page 62, before section 36, to insert the following new section:36.--Sections 33ANA and 33ANB of the Central Bank Act 1942 are repealed.”.This is a technical amendment.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 99: In page 63, lines 6 and 7, to delete paragraph (c).

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 100: In page 63, line 20, after “Part” to insert the following:“, or anything stated or done (nor the fact of something not having been stated or done) by an employee of the Bank appointed as a non-voting member to ReBo in accordance with section 49(1),”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 102: In page 64, subsection (1), line 33, after “Part” to insert the following:“to support the financial stability and long term sustainability of credit unions generally”.This is a technical amendment.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 103: In page 68, subsection (6), lines 32 and 33, to delete “May 2009” and substitute “in May 2009”.This is a technical amendment.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 104: In page 69, subsection (1)(e), line 14, to delete “appointed by ReBo;” and substitute the following:“of ReBo or appointed in any other capacity by ReBo;”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 105: In page 73, between lines 37 and 38, to insert the following subsection:“(10) Only moneys received under section 58 for the purposes of providing stabilisation support under Part 4 may be used for the purposes outlined in subsection (2)(b).”.This is a technical amendment.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 106: In page 74, lines 17 to 19, to delete subsection (2) and substitute the following:“(2) The Minister may make regulations prescribing the rate of contribution, or a method of calculating the rate of contribution, to the Credit Union Fund by a credit union under this section for the purpose of reimbursing the Minister for the provision of financial support under...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 107: In page 74, subsection (5)(b), line 49, to delete “as ReBo considers” and substitute “as the Minister considers”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 109: In page 76, subsection (3)(c)(i), line 42, to delete “regulatory”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 113: In page 80, between lines 15 and 16, to insert the following: " 12 Section 31(4) Delete. ".

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 114: In page 80, line 58, to delete item 13.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 115: In page 81, between lines 23 and 24, to insert the following: " 17 Section 36(6) Delete. ".

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 116: In page 81, between lines 30 and 31, to insert the following: " 19 Section 37A(2) Substitute: “(2) A notice under subsection (1) may be in a form that, when endorsed by the member on accepting a loan offered by the credit union, constitutes a credit agreement for the purposes of-- (a) sections 37B and 37C, or (b) where the loan is for an amount between...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 117: In page 81, lines 31 to 35, to delete item 19 and substitute the following: " 19 Section 37B(2) Substitute: “(2) For the purposes of this section, a contract of guarantee-- (a) includes, where the member is not of full age, an indemnity provided by a parent or guardian of the member or by another person approved by the board of directors, and (b) may...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 118: In page 81, lines 36 to 43, to delete item 20 and substitute the following: " 20 Section 37C(2) Substitute: “(2) The credit union shall also ensure that the agreement specifies a cooling-off period under which the member has a right to withdraw from the agreement without penalty if the member gives to the credit union a written notice to that effect...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 119: In page 81, between lines 43 and 44, to insert the following: " 21 Section 38(2) Substitute: “(2) If a credit union knowingly charges or accepts interest on a loan at a rate greater than that permitted under this section-- (a) all the interest agreed to be paid by the member shall be deemed to have been waived by the credit union; and (b) any interest...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 120: In page 81, between lines 49 and 50, to insert the following: " 22 Section 41(6) Delete. ".

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