This is the background against which measures to implement the 1987 EU directive on credit unions must be considered. Obviously, repeal of the exemption provision to bring them within the full scope of the Consumer Credit Act is one option. However, the Minister's preference is for an approach which would recognise and be supportive of the uniqueness of credit unions while addressing the appropriate regulatory and consumer protection requirements which arise from the directive. He has accordingly asked his Department to explore the possibility of using or expanding some of the existing arrangements under the Credit Union Act to accommodate the requirements of the directive. The development and implementation of suitable measures based on this approach will require the co-operation and assistance of the credit union movement and the regulatory authority, as well as acceptance by the European Commission.