Results 5,041-5,060 of 8,276 for speaker:Jennifer Carroll MacNeill

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...

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. 21: In page 12, between lines 30 and 31, to insert the following: “Amendment of section 36 of Principal Act (approval of loans) 17.Section 36 of the Principal Act is amended— (a) in subsection (2)— (i) by the substitution of “A loan must be approved” for “Subject to subsections (3) and (5), a loan must be...

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. 22: In page 12, to delete lines 32 to 35, and in page 13, to delete lines 1 to 6 and substitute the following: “17.Section 37 of the Principal Act is amended by the deletion of subsections (2) and (3).”.

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. 23: In page 13, between lines 18 and 19, to insert the following: “and (ii) by the deletion of paragraphs (b) and (c),”.

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

Jennifer Carroll MacNeill: The requirement is that it would be done on advice from CUAC and there would be a dialogue with CUAC in the first instance. The Deputy's question is related to the Oireachtas. He is right that we are making enabling legislation that does not have recourse to the Oireachtas. My only view of it is that I do not imagine a Minister doing this without a statement being made to the Oireachtas....

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

Jennifer Carroll MacNeill: The only thing I might clarify is that the Minister would not be setting but capping the rate. They would not be setting the rate in any way. I appreciate the broader governance question and will reflect on it.

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

Jennifer Carroll MacNeill: Precisely. It is a slight distinction. Let me reflect on that. I will also speak to CUAC to get its thoughts on the matter.

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. 24: In page 14, between lines 17 and 18, to insert the following: “(a) in paragraph (a), by the substitution of “the board of directors; and” for “the board of directors;”,”.

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. 25: In page 14, lines 27 and 28, to delete “, which is not provided by the referring 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: Let us consider a scenario where credit union A does not provide mortgages and a customer has to be referred to credit union B to access a mortgage. The customer gets a mortgage and gets a green loan that is either added on to or ancillary to the mortgage. Is that the sort of scenario to which the Deputy is referring?

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

Jennifer Carroll MacNeill: That would be a matter for the framework agreement between credit unions. It would be for them to work out and regulate to determine as between different corporate entities how it would work. It is not a matter for the legislation but a matter for that framework agreement. As to fees, the Deputy has answered his own question. The customer would be a member of both credit unions, albeit...

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

Jennifer Carroll MacNeill: That is correct. We are trying not to go too far. Our purpose here is to provide, as the Deputy has said, the broadest enabling environment. There is considerable enthusiasm among the credit union movement to take this and run with it. Of necessity, it is for them to work out the operation of that although, in the normal course, it will be regulated by the Central Bank. The particular...

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

Jennifer Carroll MacNeill: The legislation enables credit unions to come together in a whole range of different ways, whether in respect of the cultivate loan, which is already the case, or collective mortgage products. It is important for the legislation not to be prescriptive about the types of financial services that might be offered. I do not want to give an answer that suggests this legislation will be the...

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

Jennifer Carroll MacNeill: It is related to the drafting. We are amending the existing credit union Act. We are amending the Act that amended the original Act. It is to do with sequencing in that. The numbers will follow on.

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

Jennifer Carroll MacNeill: That is a strong idea because the framework agreements that follow this legislation are where the detail is properly worked out. As I said, at every stage, we have tried to create an enabling environment and not be too prescriptive. There is a question of how that is dealt with thereafter. I recommend perhaps including the CUAC in that conversation. It is an ongoing advisory body and will...

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. 26: In page 15, lines 19 to 21, to delete all words from and including “subsection” in line 19 down to and including line 21 and substitute the following: “subsection (1)— (a) by the substitution of “every 3 years, all plans and policies” for “annually, all plans, policies and procedures”, and (b) 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: On the amendment, it is important to highlight that this is not a mandatory change. Boards may still choose to review policies or procedures more frequently. The broad thrust of this is that, by removing the requirement to review it annually, we are trying to allow boards to have more time to focus on matters such as strategic planning, which is probably a more efficient use of board time...