The Bill as initiated provided there would be a registrar of credit unions loosely within the overall framework of the regulatory authority. Both the members of the interim Irish Financial Services Regulatory Authority, established in April 2002, and the Governor of the Central Bank were unhappy and expressed reservations about the reporting arrangements for the Registrar of Credit Unions within the new regulatory authority. They argued that they contradicted the principles of good governance. The Minister felt obliged to look again at the provisions and amendments were tabled in the Dáil which altered the reporting relationship of the registrar, bringing the position more fully within the framework of the authority. This matter on which the Minister had very detailed discussions with the league can be looked at on Committee Stage.