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

Alex White: The sense members would have of the advantages of credit unions is precisely that over the years they would have developed a unique appreciation of the community dimension to what they are doing and the nature of the particular challenges of those in their community. Would it be simply codifying that in some way or putting it down on paper?

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

Alex White: MABS also has suggestions about amendments to the Credit Union Act 1997 but, first, I will turn to my colleagues, Deputies Pearse Doherty and Michael McGrath, in particular, who may wish to comment.

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

Alex White: Given that MABS is so specific in terms of heads 3, 6 and 8, it would be better to direct any questions to Ms O'Connor in their regard.

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

Alex White: This is a public consultation on the draft general scheme of the credit union Bill 2012. In the first section of today's hearing, we are delighted to welcome representatives from the financial professional and accountancy bodies. I welcome Ms Eileen Fitzgerald and Ms Annmarie O'Connor, MABSndl; Ms Eimer O'Rourke, director of retail, and Mr. Felix O'Regan, director of public affairs, Irish...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: We would need such amendments very quickly because of the timescale involved and the requirement for the Bill to be published. It would be very helpful if the delegates could get them to us within the next day or so because we could take them on board in respect of communications.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: I think I can speak on behalf of the committee in saying I hope it continues to be the case in order that the role of the league is enhanced. I thank the delegates for attending.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: We will publish the submissions and send the transcript to the Minister. We will also attempt to identify the main issues. These are not specific recommendations because we do not have time to go through the process of hearing from the official side. This has been an extremely useful exercise and I thank the delegates for taking the time to inform us.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: It would be hard for the witnesses to answer that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: To clarify, the committee will not be coming to a collective conclusion by way of recommendation on what should be done on the issue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: Vibes are fine.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: This is a pre-legislative exercise. If we were in the business of dealing with legislation, the Minister would be present. That would happen on Committee Stage, for example, in order to tease out issues. In fairness to Mr. Johnson, he made it clear that the witnesses came to set out their views and position. We do not have a Minister present and we have not called on anybody to give the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: That is understood and appreciated.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: In what way is it not reflected?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: Was the term limits issue canvassed on in the course of the commission's deliberations?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: What was the recommendation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: Where was that recommendation included?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: Was the issue of prohibitions canvassed on?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: That is the last prohibition.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: Were the other prohibitions the subject of recommendations in the commission's report?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Bill 2012: Discussion with Irish League of Credit Unions (19 Sep 2012)

Alex White: I understand that.

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