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Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 3: 3. In page 6, to delete lines 21 to 25 and substitute the following: “(a) in subsection (1), by the substitution of “Subject to subsection (6), a society may be registered” for “A society may be registered”,”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 4: 4. In page 6, between lines 26 and 27, to insert the following: “(i) by the substitution of the following paragraph for paragraph (a): “(a) the promotion of the accumulation of savings by its members;”, (ii) in paragraph (d), by the substitution of “the use of money” for “the wise use of money”, (iii) by the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 5: 5. In page 6, to delete lines 27 to 32 and substitute the following: “(iv) in paragraph (f), by the substitution of “of the well-being of the members’ community; and” for “of the well-being and spirit of the members’ community; and”,”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 6: 6. In page 6, lines 37 and 38, to delete all words from and including “the” in line 37 down to and including line 38 and substitute the following: “each of the following conditions is fulfilled: (a) the society is formed— (i) for no object other than— (I) to provide services to those credit unions and their members, and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 7 7. In page 7, to delete lines 1 to 27 and substitute the following: “(10) Where a website is maintained by or on behalf of a credit union, the credit union shall publish, on the website maintained by it or on its behalf, as the case may be— (a) a description of the common bond of the credit union, or (b) where the common bond of the credit...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: In the sequencing of amendments, it is difficult that they are going into different places.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: The numbers will work in the consolidated version. This is the problem with this sort of amending legislation. We are amending an amending Act to an amending Act. It does not draft well, but it works in sequence.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 8: 8. In page 8, to delete lines 2 to 10 and substitute the following: “6. Section 13 of the Principal Act is amended, in subsection (1)— (a) by the substitution of the following paragraph for paragraph (a): “(a) in the case of a credit union, other than a corporate credit union, provisions with respect to the matters specified in the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 9: 9. In page 8, between lines 30 and 31, to insert the following: “(c) in subsection (5), by the substitution of “in the interests of the proper and orderly regulation of the credit union” for “not contrary to the financial services legislation”,”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No 10: 10. In page 9, between lines 34 and 35, to insert the following: “(a) in subsection (1), by the substitution of “Subject to subsection (1A), the minimum number” for “The minimum number”, (b) by the insertion of the following subsection after subsection (1): “(1A) The minimum number of members of a corporate credit...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 11: 11. In page 10, between lines 5 and 6, to insert the following: “(d) in subsection (3A), by the substitution of “Subject to subsection (3B) and the rules of the credit union concerned” for “Subject to the rules of the credit union concerned”, (e) by the insertion of the following subsection after subsection (3A): ...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 12: 12. In page 10, line 9, after “unincorporated)” to insert “, other than a corporate credit union,”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 13: 13. In page 10, line 29, to delete “the Bank” and substitute the following: “such other bodies as appear to the Minister to be expert or knowledgeable in matters relating to credit unions”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 14: 14. In page 11, between lines 12 and 13, to insert the following: “Amendment of section 21 of Principal Act (nomination of property in credit union) 11. Section 21 of the Principal Act is amended— (a) by the substitution of the following subsection for subsection (3): “(3) For the purpose of the disposal of any property which is the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 15: 15. In page 11, between lines 17 and 18, to insert the following: “Amendment of section 23 of Principal Act (provision for small payments on death) 12. Section 23 of the Principal Act is amended— (a) in subsection (1), by the substitution of the following paragraph for paragraph (a): “(a) does not in the whole exceed the amount standing...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 16: 16. In page 12, to delete lines 8 and 9 and substitute the following: “(c) in subsection (3), by the substitution of the following paragraph for paragraph (a)— “(a) If a member of a credit union seeks to withdraw savings in the credit union at a time when the member has an outstanding liability (including a contingent liability) to the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 17: 17. In page 12, line 19, after “member” to insert “of the credit union”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 18: 18. In page 12, to delete line 20 and substitute the following: “(b) enter into an agreement with one or more other credit unions in accordance with which the credit union agrees to participate in a loan to a member of one of those other credit unions (in this paragraph referred to as ‘the originating lender’) by the originating lender, or...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 19: 19. In page 12, to delete line 24.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Credit Union (Amendment) Bill 2022: Committee Stage (18 Oct 2023)

Jennifer Carroll MacNeill: I move amendment No. 20: 20. In page 12, to delete lines 26 to 30 and substitute the following: “ “(2A) The ability of the loan applicant to repay a loan shall be the primary consideration in the underwriting process of the credit union making the loan or participating in the loan, as the case may be.”, and (c) in subsection (8), by the substitution of “the...

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