Results 7,181-7,200 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: 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...

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

Alex White: There is an interesting suggestion on restructuring. The submission identifies that no provision has been made in respect of credit unions that wish to share services with other credit unions on a voluntary basis.

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

Alex White: Regarding Part 4 of the scheme, in respect of amendments to the 1997 Act, the submission draws attention to the restriction on the withdrawal of savings.

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

Alex White: We also have the point about the fact that there is no definition of member in the definition section of the Act. The witnesses are in favour of making the credit unions subject to legislation on dormant accounts.

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: I think Ms Gilleece was quoting the regulator who stated that most of the problems were by reason of poor governance.

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

Alex White: Has Deputy Boyd Barrett finished?

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

Alex White: We cannot spend too much time on that issue as that legislation is a matter for another committee. I will allow a brief response to the Deputy's question. We cannot make that legislation the subject of debate here. As I understand it, the Select Committee on Justice, Defence and Equality recently completed Committee Stage of the Bill and it has been returned to the Dáil for Report Stage.

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

Alex White: Perhaps Ms Gilleece would quickly dispose of her response to Deputy Boyd Barrett's questions and move on to Deputy Humphreys' questions.

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

Alex White: Mr. Johnson wishes to add a postscript. Has Ms Gilleece completed her responses?

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

Alex White: As Ms Gilleece is diligently taking a note of the questions, I will take advantage and allow more questions instead of reverting to her directly, if she does not mind. Deputies Spring and Boyd Barrett are next.

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

Alex White: We can only take that issue so far. The point has been well made.