The supervision of credit unions by the new authority should not be viewed as a threat to the movement but should be seen as a development that will work to the advantage of the credit union movement and member customers of credit unions. The concerns expressed by the league have been taken into account by ensuring any directions given by the registrar must be within the scope of the Credit Union Act 1997. The Bill provides that the regulatory authority will be obliged to have regard to the particular nature of credit unions, having regard to the 1997 Act and the voluntary ethos of credit unions. I understand the league has written to all credit unions stating that while it has a preference for the Bill as published, the new amendments mean that the authority will have to take into account the unique nature of credit unions and the decisions affecting them. I can make available a copy of the league's statement to Senators if they wish.