Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

The amendment provides for a transitional arrangement whereby an approval by the Central Bank under section 35(2) of the Credit Union Act 1997 in respect of longer term lending by a credit union would continue to have effect upon commencement of this section. Amendments Nos. 25 and 27 were discussed with amendment No. 18. These are minor technical amendments which allow the regulations to set limits in the form of a monetary amount as well as a percentage amount.