Results 7,301-7,320 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: How does that relate to Mr. Owen's other concern about the role of manager as envisaged in head 25?

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

Alex White: We had a great deal of discussion on head 20 yesterday, as well as section 10 dealing with prohibitions. Mr. Owens is drawing our attention to sections 14 to 16, inclusive, which set the term limits. We know it is a three year term of office and that a credit union member can serve no more than nine years in a period of 15. Mr. Hosford referred to this earlier in reasonably positive terms....

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

Alex White: Let me tease out the issue. A person looking at it would say one can serve six years and take a break for three years and then serve again for a further three years. One can serve for nine years out of 15. That does not sound hugely onerous.

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

Alex White: We are not determining how much should be lent to credit union members.

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

Alex White: We are not doing anything as important as lending money to people. Is Mr. Owen as concerned as Mr. Hosford who was worried about the workability of the nomination procedures? Mr. Owens's final point relates to levies and costs, another point Ms Hosford raised. Are Mr. Owens's concerns similar to those expressed by Mr. Hosford?

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

Alex White: Is there a similar concern about the levies?

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

Alex White: There is no cap as Mr. Hosford stated.

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

Alex White: I want to dispose of the flexi-loan account issue soon and then we can move to the broader issue.

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

Alex White: We have the submission from Mr. Pat Owens, who represents St. Mary's parish credit union in Limerick. It is critical of the draft scheme in general and specific terms. We can discuss the broad philosophy in the draft but he goes as far as saying the Bill makes no attempt to preserve what is good about credit unions or to enshrine their ethos in legislation. He is concerned the ethos is...

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

Alex White: As far as you are aware, is there any objection in principle to that being introduced - on the official side?

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

Alex White: Regarding No. 30 in Part 3, on stabilisation, the witnesses draw attention to the definition of viability in the explanatory note. Given that it is defined in the explanatory note, it is a fair point that the Minister should consider a definition of viability in the body of the text of the Bill.

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

Alex White: Regarding restructuring, which has arisen in other submissions, the suggestion is that levies could become a runaway element if there is no limit on the number of levies that can be imposed.

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

Alex White: We have until one o'clock so we can ask each of the three gentlemen about the overarching issues. Are there any questions on the specifics of Mr. Hosford's points?

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

Alex White: We have plenty of time for discussion on big-ticket issues so we will remain on the specifics of the Gurranabraher Credit Union.

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

Alex White: Mr. Owens has very strong views on that point. We will hear from Mr. McConville next and it will open up onto that issue when we come to Mr. Owens.

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

Alex White: Mr. McConville, the manager of the Dundrum Credit Union, has an innovative proposal on a flexi-loan account, which he believes should be provided for in legislation. Perhaps he can explain his proposal.

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

Alex White: With regard to lending, section 3 would specify that the bank may impose specific lending limits. The witnesses have indicated that principle is worthy but that consideration should be given to how this would be implemented in practice. Is it again a case that more detail is required?

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

Alex White: Head No. 7, dealing with investments, was highlighted as being an issue for our attention. The issue is the accounting rules on the distribution of income.

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

Alex White: Head No. 10 deals with risk management and compliance officers.

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

Alex White: There is a bit more work to be done on how these ideas relate to each other and so forth. That is not an objection in principle but we may need to organise it a bit better.